Tuesday, July 16, 2024 | Baltimore, MD

Employers add 339,000 jobs in May, strong growth that defies head winds

June 5, 2023

Employers posted a blockbuster 339,000 jobs in May in the latest sign that a booming labor market continues to keep the country from slipping into a recession, but the economy also gave new warning signs with an increase in the unemployment rate. The unemployment rate rose in May to 3.7 percent from 3.4 percent, one of the fastest increases since early in the pandemic, according to Bureau of Labor Statistics data released Friday.

Article Source: Washington Post

The Morning Rundown

We’re staying up to the minute on the issues shaping the future. Join us on the newsletter of choice for Maryland politicos and business leaders. It’s always free to join and never a hassle to leave. See you on the inside.