The US economy added 139,000 jobs in May, a slower pace than the previous two months, according to the Labor Department’s closely watched report. The unemployment rate remained steady at 4.2%.
Private sector payrolls grew by 140,000, while government payrolls declined by 1,000 jobs. Manufacturing shed 8,000 jobs, and healthcare employment added 62,200 jobs.
The leisure and hospitality sector saw a significant increase in job gains, with 48,000 new hires, while social assistance employment rose by 16,100 jobs. The labor force participation rate decreased to 62.4%, but the long-term unemployed number decreased to 1.5 million.
Economists warn that the slowdown in job growth may signal a shift towards a more uncertain economic future. “While the US job market added a decent number of jobs, it’s cooler than expected and continues to soften,” said Cory Stahle, economist at the Indeed Hiring Lab. “There are clear signs of erosion below the surface that may not be apparent just by looking at the headline numbers.”
Source: https://www.foxbusiness.com/economy/us-jobs-report-may-2025