In May, the U.S. unemployment rate remained unchanged at 4.2%, with employers adding 139,000 jobs amidst economic uncertainty. Major job growth was seen in health care, leisure, and social assistance, particularly in hospitals and restaurants. However, the federal sector experienced a decline, losing an additional 22,000 jobs as part of ongoing cost-cutting measures. Unemployment rates revealed disparities among racial groups, with African Americans facing the highest rates at 6%. Average hourly wages for private-sector employees also increased slightly, indicating some positive momentum in the labor market despite broader concerns.
The latest Labor Department jobs report showed that the unemployment rate in May stayed flat at 4.2%, while employers added 139,000 new jobs, reflecting a steady pace of hiring.
The health care segment emerged as May's big winner, adding 62,000 jobs, with the majority of these in hospitals, bolstering employment growth amidst economic concerns.
In May, African Americans faced the highest unemployment rate at 6%, contrasted by lower rates for Whites and Asian Americans, highlighting ongoing racial disparities in the job market.
Despite positive trends in some sectors, the federal government continued to lose employees, shedding 22,000 jobs in May due to ongoing cost-cutting measures since the Trump's administration.
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