Yet JPMorgan economists predict unemployment will spike next year to its highest level since 2021.
Key Facts
The U.S. added 139,000 nonfarm jobs from April to May on a seasonally adjusted basis, the Labor Department said.
Consensus economist estimates pegged May job growth at 125,000, according to Dow Jones data.
The unemployment rate was 4.2% last month, meeting forecasts of 4.2%, the level it stood in March and April.
Job growth was strongest in the healthcare and food services sectors, while federal government employment contracted by 22,000, according to the report. Contra
The government revised down prior March and April job growth estimates by 65,000 and 30,000, respectively, meaning job growth over the last three months was actually 81,000 positions weaker than anticipated prior to Friday’s release when combined with the better-than-expected May data.
