US jobs exceed expectations in May

Data showed that the US economy added 339 thousand jobs in May. Analysts had expected that the US economy would add 190 thousand jobs in May, and the economy added 93 thousand additional jobs in March and April than previously expected.

Professional and commercial services added 64 thousand jobs, government employment increased by 56 thousand jobs, the health care sector added 52 thousand jobs, and jobs in the field of entertainment and hospitality increased by 48 thousand jobs.

Average hourly earnings rose 0.3% in May after rising 0.4% in April. YoY, wages fell to 4.3% in May after rising 4.4% in April. The unemployment rate rose to 3.7% in May from 3.4% in April.