The U.S. economy added 223,000 jobs in May, well ahead of the 190,000 gain expected by economists surveyed by Briefing.com Revised figures for April showed the economy adding slightly fewer jobs, a revised 159,000 new jobs versus an initial 164,000. The official unemployment rate fell to 3.8% in May from 3.9% in April, matching a 18-year low.
Initial claims for unemployment for the week ended March 10 fell by by 4,000 to 226,000. That was in-line with projections from economists surveyed by Briefing.com. This is the 158th consecutive week that new claims for unemployment have been below 300,000. The less volatile 4-week moving average slipped by 750 to 221,500.
The major U.S. stock indexes were just about unchanged at noon New York time today–Standard & Poor’s 500 down 0.02% and the Dow Industrials up 0.25%–ahead of 24 hours or so of high headline risk. Today’s big event–maybe–is the tariff decision that President Donald Trump promised reporters this morning would be forthcoming around 3:30 p.m. this afternoon. Tomorrow’s big news is the release of the February jobs report