Employment and wages continue to expand during May in the United States

Employment and wages continue to expand during May in the United States

Economists polled by Reuters had forecast a gain of 325,000 jobs last month, with estimates ranging from 250,000 to 477,000.

The report also showed a solid rise in wages in Maywhich paints a picture of an economy that continues to expand, albeit at a moderate pace.

The Federal Reserve is trying to curb demand for labor to tame inflation, without driving the unemployment rate too high. The aggressive monetary stance of the US central bank and the consequent tightening of financial conditions have made investors fear a recession next year.

Economists are divided on whether the moderation in the pace of job growth is due to cooling labor demand or a shortage of workers. At the end of April there were 11.4 million job vacancies, that is, almost two jobs for every unemployed person.

The US central bank has raised its policy rate by 75 basis points since March and is expected to raise the overnight rate by half a percentage point at each of its upcoming meetings this month and in July.



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