US employers added a robust 272,000 jobs in May in a sign of sustained economic health – Times of India
WASHINGTON: America's employers added a strong 272,000 jobs in May, accelerating from April and a sign that companies are still confident enough in the economy to keep hiring despite persistently high interest rates. Last month's sizable job gain suggests that the economy is still growing steadily, propelled by consumer spending on travel, entertainment and other services.US airports, for example, reported record traffic over the Memorial Day weekend. A healthy job market typically drives consumer spending, the economy's principal fuel. Though some recent signs had raised concerns about economic weakness, May's jobs report should help assuage those fears. Still, Friday's report from the government included some signs of a potential slowdown. The unemployment rate, for example, edged up ...