The economy added 390,000 jobs in May, beating Wall Street’s expectations!
While the stock market remains hesitant about a looming recession, the employment market holds strong.
Hospitality led with 84,000 new jobs, business services added 75,000, transportation added 47,000, and construction 36,000. Public and private education added 36,000 and 33,000 respectively.
Average hourly earnings are up 5.2% from last year, and the unemployment rate is holding at 3.6%.
Market Recap Week of 5/31/2022 Through 6/03/2022 – Daily Flash Briefing