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US Job Growth Slows in May Amid Tariff Fears; Unemployment Rate Flat
The Straits Times
|June 07, 2025
US job growth slowed in May amid headwinds from tariff uncertainty, while the unemployment rate held steady at 4.2 per cent, potentially giving the Federal Reserve cover to delay resuming interest rate cuts for a while.
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WASHINGTON -
Non-farm payrolls increased by 139,000 jobs in May after rising by a downward revised 147,000 in April, the Bureau of Labour Statistics said in its closely watched employment report on June 6.
Economists polled by Reuters had forecast 130,000 jobs added after a previously reported 177,000 rise in April.
The unemployment rate remained at 4.2 per cent for the third straight month.
The economy needs to create roughly 100,000 jobs per month to keep up with growth in the working-age population.
That number could decline as President Donald Trump has revoked the temporary legal status of hundreds of thousands of migrants amid an immigration crackdown.
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