[Dallas Morning News] US hiring and wage growth picked up last month in sign of sustained economic healthAmerica’s employers added a strong 272,000 jobs in May, accelerating from April and a sign that companies are still confident enough in the economy to keep hiring despite persistently high interest rates.
Last month’s sizable job gain suggests that the economy is still growing steadily, propelled by consumer spending on travel, entertainment and other services. U.S. airports, for example, reported near-record traffic over the Memorial Day weekend.
Friday’s report from the government did include some signs of a potential slowdown. The unemployment rate, for instance, edged up for a second straight month, to a still-low 4%, from 3.9%, ending a 27-month streak of unemployment below 4%.President Biden pointed to Friday’s jobs report as a sign of the economy’s robust health. He also charged that Republicans would worsen inflation by cutting health care subsidies and widening the deficit through tax cuts.
If they could get those issues through the (D) Senate.