WASHINGTON — U.S. payroll employment increased in May while the unemployment rate remained unchanged, according to the latest labor market statistics released by the U.S. Bureau of Labor Statistics, indicating continued job growth across several sectors of the economy.
The Labor Department reported that total nonfarm payroll employment rose by 172,000 jobs in May, while the unemployment rate held steady at 4.3%. Job gains were concentrated in leisure and hospitality, local government and health care, while employment in financial activities declined, the agency said.
The May figures exceeded expectations among many economists and followed revised employment gains reported for previous months. According to the Bureau of Labor Statistics, payroll growth in March and April was revised upward, indicating stronger hiring activity than initially estimated.
“Total nonfarm payroll employment increased by 172,000 in May, and the unemployment rate was unchanged at 4.3 percent,” the Bureau of Labor Statistics said in its monthly employment report.
Labor market data released in recent weeks have generally pointed to continued resilience in employment despite broader economic uncertainties. The number of Americans filing new claims for unemployment benefits remained within a range that economists have described as consistent with a relatively stable labor market. Federal Reserve officials have also noted that employment conditions have remained broadly steady.
Government data showed that leisure and hospitality accounted for a substantial share of May's job gains, while local government and health care employers also expanded payrolls. Financial activities recorded job losses during the month, according to the labor report.
Additional indicators released earlier this month suggested that labor demand remained present across parts of the economy. The Bureau of Labor Statistics reported an increase in job openings during April, although hiring and separations both declined compared with the previous month.
The employment report is closely watched by policymakers, investors and businesses as an indicator of economic conditions. Labor market performance is also a key factor considered by the Federal Reserve when assessing monetary policy. Recent Fed statements have described employment growth as broadly aligned with labor force expansion while inflation remains under review.
As of Monday, the May employment report remained the most recent comprehensive national payroll data available. The next monthly employment update from the Bureau of Labor Statistics is scheduled for early July, when officials are expected to release statistics covering labor market conditions in June.
