"Economy Added 175,000 Jobs In May; Unemployment Ticks Up To 7.6 Percent"
The economy added 175,000 jobs in May and the unemployment rate ticked up slightly to 7.6 percent, according to the latest data from the Bureau of Labor Statistics. Analysts had expected 164,000 jobs.
Jobs numbers for March were revised up from 138,000 to 142,000; April’s numbers were revised down from 165,000 to 149,000.
Public sector jobs dropped by 3,000, with 14,000 lost at the federal level. Manufacturing also saw a big drop of 8,000 jobs. Meanwhile, leisure and hospitality added 43,000 jobs and retail added 27,700.