US added 172,000 jobs in May as labor market shows signs of resilience US employers added 172,000 jobs in May, with the unemployment rate holding at 4.3%, indicating a resilient labor market despite inflation and economic uncertainty. However, US stocks experienced a significant decline, particularly in the tech sector, following a sharp sell-off of AI chip stocks. While job growth was broad-based, economists are divided on the Federal Reserve’s next move regarding interest rates.

• US employers added 172,000 jobs in May.
• The unemployment rate remained steady at 4.3%.
• US stocks fell sharply, with the Nasdaq down 4% in its largest single-day drop in over a year.
• Job figures for March and April were revised upwards.
• Job growth was strongest in leisure and hospitality.
• The number of job openings in April increased to 7.6 million.
• Private employers added 122,000 jobs in May.
• Economists predict the Fed will hold rates steady at its June meeting.