US Adds 139,000 Jobs in May Amidst Economic Slowdown and Trade Uncertainty

The United States added 139,000 jobs in May, exceeding expectations, while unemployment remained at 4.2%. This positive jobs report, however, is tempered by concerns of a potential economic slowdown. CNBC’s Dominic Chu stated that the report presents a 'mixed picture', with slower economic growth and rising wages creating a complex economic outlook. The ongoing trade tensions between the US and China add further uncertainty. The recent phone call between President Trump and China's President Xi Jinping, where they agreed to revive trade talks, may influence the situation. President Trump described the call as 'very good', indicating a potential positive shift in trade relations, but the long-term effects remain to be seen. The jobs market has remained relatively strong despite these uncertainties.