BUSINESS

Job Employment Remains Robust In The U.S.

The Job market in the U.S. continues to be buoyant, despite rising prices and a sharp spike in borrowing costs weighing on the economy.

Employers added 339 thousand jobs, but the unemployment rate rose to 3.7 percent, from April’s unusually low 3.4 percent.

The increase in number exceeded expectations, thus showing a long run in hiring, notwithstanding the Fed’s attempt to control inflation.

Analysts have expected hiring to slow as the U.S. central bank raises interest rates to rein in rising prices.

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Edited by Jesus Chan

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