US employers added 339,000 jobs in May, but the unemployment rate rose to 3.7% from April's 3.4%.
Why it matters
The unexpected job gains and rise in unemployment rate indicate the resilience of the US job market amidst rising prices and borrowing costs, impacting the Federal Reserve's efforts to control inflation.
What the papers say
Reuters reports that the job growth likely slowed in May, while AP News highlights the strength in the job market and the Federal Reserve's efforts to control inflation. The New York Times emphasizes the unexpected rise in job openings, indicating the resilience of the labor market.
How we got here
The US job market has shown resilience despite rising prices and borrowing costs, with unexpected job gains and a rise in the unemployment rate.
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