According to data from the U.S. Bureau of Labor Statistics, the number of nonfarm payroll employment increased by 272,000 in May, a significant increase compared to the 165,000 in April, and far exceeding the estimated 190,000. Despite the strong job growth, the unemployment rate rose to 4%, surpassing this level for the first time since January 2022. Economists had expected the rate to remain at 3.9% from April.
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