Jobs report smashes expectations with payroll growth of 172,000

The US economy added 172,000 jobs in May, blowing past expectations, according to the government's closely watched jobs report. The unemployment rate remained flat at 4.3%. Economists surveyed by Bloomberg had anticipated payroll growth of 88,000 for the month. April's jobs report — which itself was a massive beat — was also revised to show an even better 179,000 jobs gained, compared to the 115,000 reported earlier. March's payroll growth was also updated to show 214,000, bringing the first monthly gain above 200,000 since early 2024. #jobsreport #economy #federalreserve #interestrates #inflation #stockmarket #fed #ai #yahoofinance Timestamps 00:00 Jobs report crushes expectations 02:00 Where the hiring came from 03:45 Why economists were surprised 05:00 Is the labor market overheating? 06:15 What this means for inflation 07:15 Why the Fed may stay on hold 09:00 The bond market reaction 11:00 Could the Fed hike rates instead? 13:30 The consumer spending outlook 15:15 Has the AI trade peaked? == — Facebook: https://www.facebook.com/yahoofinance — X/Twitter: https://x.com/YahooFinance — Instagram: https://www.instagram.com/yahoofinance/ — TikTok: https://www.tiktok.com/@yahoofinance — LinkedIn: https://www.linkedin.com/company/yahoo-finance See the Latest News & Data: https://finance.yahoo.com/