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According to the Labor Department, the US economy added 272,000 jobs in May, significantly exceeding economists’ expectations of a 185,000 increase.
This unexpected surge in job creation defied projections. However, the slight rise in the unemployment rate to 4 percent ends the longest streak of sub-4 percent joblessness since the 1960s, indicating mixed signals about the broader economic health.

President Biden highlighted the strong job numbers, noting the 15.6 million jobs added since he took office. While acknowledging the ongoing economic recovery. He said, “The great American comeback continues, but we still have to make more progress. I will keep fighting to lower costs for families like the ones I grew up with in Scranton.” However, Biden faces challenges in shifting public opinion on his economic management, particularly with the upcoming election against former President Trump. Recent polls show more Americans trusting Trump over Biden on economic and inflation issues, posing a potential hurdle for Biden’s campaign.
This development comes as the Federal Reserve prepares to discuss interest rates next week, the context of these employment figures is crucial. The central bank, which has maintained rates between 5.25 percent and 5.5 percent since July 2023, is unlikely to reduce rates soon due to persistent inflation. Although inflation has decreased from its peak of 9.1 percent in June 2022 to 3.4 percent in April, it remains above the Fed’s target.