US labor market in May slightly stronger than expected

us job marketEmployment in the US recovered slightly more than expected in May, while the unemployment rate fell unexpectedly and hourly wages increased more than expected.

According to the Ministry of Labor, 223,000 additional jobs were created outside agriculture. The economists interviewed by Dow Jones Newswires had expected a job growth of 190,000.

The figures for the two previous months were also cumulatively revised upwards by 15,000 jobs: The ministry reported a job increase of 159,000 for April (provisionally: 164,000) and an increase of 155,000 (135,000) for March.

The separately recorded unemployment rate fell to 3.8 (3.9) percent in May, while economists had forecast an unchanged quota. Private households are surveyed for these statistics, while companies and authorities are employed for the number of employees.

The so-called labor force participation rate – ie the proportion of the working population in the total working-age population – fell to 62.7 (62.8) percent.

US hourly wages rose 0.3 percent or $ 0.08 to $ 26.92. Economists had expected a plus of only 0.2 percent. In a year-on-year comparison, wages were 2.7 (April: 2.6) percent higher.

WASHINGTON (Dow Jones)

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