WASHINGTON — Employers in the United States added 172,000 jobs in May, exceeding economists’ expectations, while the unemployment rate remained at 4.3%, according to the latest labor market data.
The report also revised employment figures upward for March and April. Employers added 214,000 jobs in March, an increase of 29,000 from the previous estimate, while April’s total rose by 64,000 to 179,000 jobs. Together, the revisions added 93,000 more jobs to the two-month total.
The leisure and hospitality sector recorded the largest monthly increase, adding 70,000 jobs in May. The gain significantly exceeded the sector’s average monthly increase of 14,000 jobs over the previous year.
Restaurants and drinking establishments accounted for 48,000 of the new jobs in the leisure and hospitality industry.
Government employment increased by 55,000 jobs during the month, driven largely by hiring in local government positions outside the education sector.
The health care sector added 35,000 jobs in May, consistent with its average monthly growth of 38,000 jobs over the past year. Ambulatory health care services contributed 26,000 jobs, while home health care providers added 11,000 positions. Hospitals also expanded employment, adding 6,000 jobs.
In contrast, employment in the financial sector declined by 22,000 jobs during the month. The industry has lost 107,000 jobs since reaching its most recent peak a year ago. The largest declines occurred in commercial banking, insurance carriers, and related financial activities.
The May employment report indicates continued labor market growth despite slower hiring in some sectors and a stable unemployment rate.
