US Job Growth Slows, Unemployment Steady: Is the Economy Cooling?

US Job Growth Moderates in May: Unemployment Holds Steady at 4.2% The US economy added 139,000 jobs in May, a significant slowdown from previous months. This follows downward revisions of 95,000 to the job growth figures for March and April. Despite the moderation, the unemployment rate remained stable at 4.2%. Bloomberg News' Michael McKee offered insight into the numbers: "We do see a revision down to the numbers for April to 147,000 from 177,000. So the weakening trend continues, but we're not falling off a cliff." The report also highlighted a change in private payrolls of 140,000—20,000 more than expected. McKee further noted that the labor force participation rate is slightly lower at 62.4%, while the U6 unemployment rate stands at 7.8%. Average hourly earnings showed strength, increasing by four-tenths, pushing the year-over-year rate up to 3.9% from 3.8%. While job growth has slowed, the stability of the unemployment rate and the strength in hourly earnings suggest a degree of resilience in the US labor market. Further analysis will be needed to determine the long-term implications of this moderation.