(Bureau of Labor Statistics) US nonfarm payroll employment increased by 390,000 in May, surpassing estimates of a gain of 328,000.
A majority of job gains were in leisure and hospitality, professional and business services, and transpiration and warehousing.
The unemployment rate also held at a low level of 3.6% in May, underlining a healthy job market despite fears of a recession. The number of unemployed persons was unchanged at 6.0 million.
The labor force participation rate was at 62.3%, with the employment-population ratio holding at 60.1%.
Individuals employed part-time for economic reasons rose by 295,000 to 4.3 million, reflecting a rise in persons whose hours were reduced due to business conditions or slack work.
The number of persons not in the labor force remained unchanged at 5.7 million in May, above the February 2020 level of 5.0 million.
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