May jobs report surprises to the upside | Fox Business
The U.S. added a higher-than-expected number of jobs in May – with the Labor Department reporting that 223,000 jobs were added, more than the 188,000 jobs analysts polled by Thomson Reuters were expecting.
Wage inflation came in above expectations, at 0.3%. Analysts polled by Thomson Reuters were anticipating wages would increase by 0.2%.
“Payrolls came in ahead of expectations, but very much in line with recent averages. The unemployment and underemployment rates both ticked down, and reflect the continued tightening in the labor market,” Sameer Samana, global quantitative and technical strategist with Wells Fargo Investment Institute told FOX Business.