The US economy added a stronger-than-expected 172,000 jobs last month

By Alicia Wallace, CNN

(CNN) — The US labor market appears to have found its footing: The economy added 172,000 jobs in May, shattering expectations, new data from the Bureau of Labor Statistics showed Friday.

The latest jobs report provided some reassurance that the US labor market may be stabilizing after a year of weak and stilted job growth: Unemployment held steady at 4.3%, while employment gains topped 100,000 for the third consecutive month, a pattern not seen since early 2024.

Economists were expecting that employers added 105,000 jobs last month and that the unemployment rate wouldn’t budge from 4.3%.

Recent months’ data appears to indicate that the labor market and broader economy remain resilient despite a barrage of shocks. However, economists caution that a protracted war could keep gas prices high and cut into consumer spending, raise business costs, and trickle into higher prices for other goods and services.

This story is developing and will be updated.

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