Topline
Amid waves of layoffs continuing to hit some of the nation’s largest employers, the unemployment rate unexpectedly ticked up last month despite the labor market gaining significantly more jobs than expected—adding to mixed messages about the economy as the Federal Reserve decides whether it should pause its aggressive campaign to tame rising prices for the first time in more than a year.
Key Facts
Total employment increased by 339,000 in May—far exceeding economist projections of 190,000 after gains in April also unexpectedly climbed, according to data released Friday by the Labor Department.
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