US employers likely added 105,000 jobs in May with labor market stable despite costly Iran war
Summary
The U.S. job market showed improvement in May with about 105,000 jobs added, but growth remains slow. Despite economic challenges like high energy prices from conflicts in the Middle East, unemployment stayed low at around 4.3%, with healthcare being the main sector adding jobs.Key Facts
- Employers likely added 105,000 jobs in May, a slight decrease from 115,000 in April.
- Unemployment rate held steady at approximately 4.3%.
- Job growth is much slower than the strong rebound after the pandemic lockdowns.
- More than 25% of unemployed people in April had been jobless for over six months.
- Fewer people are quitting their jobs, with quits at the lowest since August 2020.
- Healthcare companies added over 456,000 jobs in the past year, while other industries cut about 205,000 jobs.
- President Donald Trump’s 2025 tax cuts gave many Americans big tax refunds, helping the economy.
- High gas prices and an immigration slowdown may be affecting job growth in some industries.
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