{"id":36055,"date":"2022-06-04T04:59:42","date_gmt":"2022-06-04T04:59:42","guid":{"rendered":"https:\/\/harchi90.com\/us-economy-sees-solid-job-growth-in-may-as-payrolls-jump-by-390000\/"},"modified":"2022-06-04T04:59:42","modified_gmt":"2022-06-04T04:59:42","slug":"us-economy-sees-solid-job-growth-in-may-as-payrolls-jump-by-390000","status":"publish","type":"post","link":"https:\/\/harchi90.com\/us-economy-sees-solid-job-growth-in-may-as-payrolls-jump-by-390000\/","title":{"rendered":"US economy sees solid job growth in May as payrolls jump by 390,000"},"content":{"rendered":"
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President Joe Biden delivers remarks on the May jobs report. <\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

The US economy continued to see healthy job<\/u> growth in May, indicating the labor market is still strong despite growing fears of a recession amid sky-high inflation and an increasingly aggressive Federal Reserve. <\/p>\n

Employers added 390,000 jobs in May, the Labor Department said in its monthly payroll report released Friday, beating the 328,000 jobs forecast by Refinitiv economists. The unemployment rate, meanwhile, held steady at 3.6%, the lowest level since February 2020.<\/p>\n

SURGING INFLATION SQUEEZING SMALL BUSINESSES, GOLDMAN SACHS SURVEY SHOWS<\/u><\/strong><\/p>\n

Job gains were broad-based, with the biggest increases in the pandemic-battered leisure and hospitality industry (84,000), professional and business services (75,000) and transportation and warehousing (47,000). Nearly every industry gained positions last month, with one notable exception: Retail, which shed nearly 61,000 jobs. <\/p>\n