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- U.S. unemployment rate rises to 5.5% in May, 280,000 jobs are added
U.S. unemployment rate rises to 5.5% in May, 280,000 jobs are added
The U.S. Labor Department released the labour market data on Friday. The U.S. economy added 280,000 jobs in May, exceeding expectations for a rise of 225,000 jobs, after a gain of 221,000 jobs in April. It was the largest increase since December.
April's figure was revised down from a rise of 223,000 jobs.
The strongest job gains showed professional and business services, leisure and hospitality and health care.
The U.S. unemployment rate rose to 5.5% in May from 5.4% in April. Analysts had expected the unemployment rate to remain unchanged at 5.4%.
The increase was driven by people entering the labour force in search of work.
Average hourly earnings increased 0.3% in May, beating forecasts of a 0.2% gain, after a 0.1% rise in April.
The labour-force participation rate was up to 62.9% in May from 62.8% in April.
These figures are signs that the labour market in the U.S. continued to strengthen. But the Fed may delay to hike its interest rate due to the weak wage growth figures and low inflation and mixed U.S. economic data in the recent months.
The U.S. economy declined 0.7% in the first quarter.
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