The US Unemployment Rate Increases to 3.7%
According to new data released from the Bureau of Labor Statistics (BLS), the US unemployment rate increased to 3.7% in the month of May. Moreover, the country’s labor market added a total of 339,000 nonfarm payroll jobs for the month. The increase this month signals a 0.3% rise, with the number of unemployed people increasing to 6.1 million. Moreover, the job growth figures were in stark contrast to forecasts that expected 180,000 jobs. Subsequently, the increase in May has exceeded April’s revised growth rate as reported by the BLS. JUST IN: US unemployment rate increases to 3.7%. — Watcher.Guru (@WatcherGuru) June 2, 2023 US Unemployment Increases for May Considering the current economic standing of the country, all eyes were on the unemployment figures set to be released today. Moreover, the arrival of the numbers has shown an increase for the month of May, and presented a better overall picture of the current labor market. Specifically, the US unemploym...