U.S. May Jobs Report Shows 172,000 New Jobs, Unemployment Steady

U.S. employers added 172,000 jobs in May, far surpassing analyst forecasts of 85,000‑105,000. The unemployment rate held steady at 4.3%, unchanged from April.

Leisure and hospitality contributed the largest share with 70,000 jobs, followed by local government (55,000) and health care (35,000). Revised data also raised March and April gains, leading to an average of about 190,000 jobs added per month from March through May, a reversal from the modest losses earlier in the year.

Wage growth lagged inflation, with average hourly earnings up 3.4% year‑over‑year, below the 3.8% inflation rate. Economists noted the resilient labor market could keep the Federal Reserve focused on price pressures rather than easing monetary policy.