The two surveys that make up the report card for the job market diverged significantly in May. Based on the government’s survey of businesses, payrolls beat estimates for a 14th straight month, while the household survey showed the biggest single-month increase in jobless rate since April 2020.
The latest US jobs report presented conflicting signals on a heretofore robust labour market: hiring that exceeded expectations and a jump in the unemployment rate.
Economists said they saw more reason than not to believe the labour market is still humming.
