U.S. Adds 172,000 Jobs in May, Outpacing Forecasts

U.S. employers added 172,000 jobs in May, comfortably beating expectations of roughly 85,000 and pointing to continued resilience in the labor market. The unemployment rate held at 4.3%, matching forecasts. The latest report also delivered sizeable upward revisions. April payrolls were revised up by 64,000, while March and April combined were revised higher by 93,000, reinforcing the view that hiring has been stronger than first reported. The release lands amid persistent inflation worries and heightened geopolitical tensions in the Middle East. Even so, hiring activity appears broadly spread across the economy. Earlier this week, the Labor Department reported job openings rose to 7.6 million in April, with layoffs and voluntary quits little changed, signaling steady labor conditions. Private-sector data echoed the theme. ADP said private employers added 122,000 jobs in May, with gains across most company sizes and sectors. ADP's chief economist, Dr. Nela Richardson, said hiring was more broad-based than in recent years and that momentum is holding into the summer hiring season. Information and natural resources were the two areas flagged as softer. For markets and policy, the jobs report was the first major labor-market release under Federal Reserve Chair Kevin Warsh, who took office last month. Economists still broadly expect the Fed to keep rates unchanged at its June meeting, even as President Donald Trump and his advisers continue to press for rate cuts. Markets were mixed on Thursday. Technology shares led declines, with the Nasdaq down more than 340 points at the open as chipmakers weakened. Broadcom, Micron Technology and CrowdStrike extended losses. Investors rotated into banks and other cyclical stocks as alternatives to the crowded artificial intelligence trade. Oil prices remained elevated near $95 a barrel, reflecting ongoing supply risks tied to global conflicts. Higher energy costs added to concerns about inflation and slower growth. Digital assets also stayed under pressure: CoinMarketCap data showed Bitcoin down more than 14% this week, while Ether fell to its lowest level since April 2025. Disclaimer: This content is for informational and educational purposes only and does not constitute financial advice. The publisher is not responsible for losses resulting from the use of any content, products, or services mentioned. Readers should exercise caution before taking action related to any company.