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U.S. ECONOMICS: Payrolls In Line as Unemployment Rate Improves

U.S. nonfarm payrolls climbed 217,000 in May from a revised 282,000 April surge (was 288,000) and a 203,000 gain in March, for a 3-month average of 234,000. The unemployment rate was steady at 6.3% (actually 6.297% versus April's 6.275%). Household employment rose 145,000, with the labor force up 192,000. Average hourly earnings edged up 0.2% following the flat reading for April. The workweek was steady at 34.5. Private employment increased 216,000, with goods producing employment up 18,000, construction up 6,000, and manufacturing up 10,000. The service sector added 198,000 jobs. Federal government employment declined 5,000.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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