Payroll employment rose by 339,000 in May

According to the Bureau of Labor Statistics, payroll employment rose by 339,000 in May, significantly larger than expected 190,000, making the total number of jobs added in the previous 12 months 4.1 million. However, despite this larger than expected increase in payroll jobs, the unemployment rate rose to 3.7%, a large 0.3% increase.

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Economic Pulse: Week of 6/2/23 (