Entrepreneur
The U.S. Bureau of Labor Statistics released its " Employment Situation Summary " report for May on Friday, and the findings reflect a "steady but cautious" labor market, says Ger Doyle , Regional President of North America at employment agency ManpowerGroup, in a statement to Entrepreneur.
The U.S. economy added 139,000 jobs in May. The unemployment rate was 4.2%, unchanged from April, while job additions were down from the revised 147,000 jobs added in April.
The unemployment rate has remained stable between 4.0% and 4.2% since May 2024, with 7.2 million people unemployed as of May.
Both employers and employees acted cautiously in the month of May, with employees holding onto their positions and employers slowing down their hiring.
"This is not a freeze, but a temporary chill,"