US job growth jumps by 272K in May while unemployment unexpectedly rises

Labor Department releases closely watched May jobs report

Employers added 272,000 jobs in May, the Labor Department said in its monthly payroll report released Friday, easily topping the 185,000 gain forecast by LSEG economists. But the unemployment rate unexpectedly inched higher to 4% against expectations that it would hold steady at 3.9%.

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