US non-farm payroll employment grew 272k in May, well above expectation of 180k. That’s also higher than the average monthly gain of 232k over the prior 12 months.
Unemployment rate ticked up from 3.9% to 4.0%, above expectation of 3.9%. Labor force participation rate fell from 62.7% to 62.5%.
Average hourly earnings rose 0.4% mom, above expectation of 0.3% mom. Over the 12 months period, average hourly earnings rose 4.1% yoy.
Full US NFP release here.
