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The US economy added 172,000 jobs in May, well above expectations, while the unemployment rate remained unchanged at 4.3%, suggesting that geopolitical tensions in the Middle East have yet to have a meaningful impact on the US labor market.
According to data released on Friday by the US Bureau of Labor Statistics, the leisure and hospitality sector added 70,000 jobs, while employment in the healthcare sector increased by 35,000.
By contrast, the financial activities sector lost 22,000 jobs during May, bringing total job losses in the sector to 107,000 since its peak in May 2025.
The bureau revised April payroll growth upward by 64,000 jobs. The economy is now estimated to have added 179,000 jobs in April, compared with the previously reported 115,000. March payrolls were also revised higher by 29,000 jobs to 185,000.
|
US employment report (May 2026) |
||||
|
Indicator |
Forecast |
April |
May |
Change |
|
Nonfarm payrolls ('000) |
85 |
179 |
172 |
(7) |
|
Unemployment rate (%) |
4.3 |
4.3 |
4.3 |
-- |
|
Average hourly earnings ($) |
-- |
37.41 |
37.53 |
+0.12 |
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