US employers in May added more jobs than expected, suggesting companies remain confident about demand and the economy’s prospects.
Nonfarm payrolls increased 390,000 last month after a revised 436,000 gain in April, a Labor Department report showed Friday. The unemployment rate held at 3.6%, and the labor force participation rate also held steady.
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The median estimate in a Bloomberg survey of economists called for a 318,000 advance in payrolls and for the unemployment rate to fall to 3.5%.
