US Adds 172,000 Jobs in May, Exceeding Expectations; Unemployment Steady at 4.3%

Published: Jun 6, 2026 15:16

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The latest US non-farm payrolls data for May showed that the economy added 172,000 jobs, significantly exceeding the market's prior expectation of 85,000. Meanwhile, the unemployment rate held steady at 4.3%, and average hourly earnings rose 0.3% MoM, both in line with market expectations. Additionally, the non-farm payrolls figures for March and April were revised upward by a combined 93,000, lifting the pace of job gains over the past three months to the highest level in more than two years. Following the data release, the interest rate swap market has fully priced in expectations that the Fed will raise interest rates this year.

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