US added 172,000 jobs in May as labor market shows signs of resilience

Government figures show unemployment rate at 4.3% amid rising inflation and economic uncertainty from Iran war

US employers added 172,000 jobs in May while the country’s unemployment rate held steady at 4.3%, a sign of a resilient labor market despite rising inflation and economic uncertainty brought on by continued conflict in the Middle East.

Economists initially predicted there would be about 80,000 new jobs and a steady unemployment rate of 4.3%. Job figures for March and April were also revised up 29,000 and 64,000, respectively, a 93,000 boost compared to initial figures.