US job market extends winning streak with 172,000 new positions in May 2026
The U.S. labor market added 172,000 jobs in May, marking the third consecutive month of growth, the Bureau of Labor Statistics reported. Unemployment held at 4.3% as short-term joblessness declined but long-term unemployment rose. Average wages grew 3.4% year-over-year, trailing inflation. Gains were led by leisure and hospitality, local government, and health care. Strong hiring and high inflation make near-term Fed rate cuts unlikely.
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