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U.S. Adds 139,000 Jobs in May as Labor Force Participation Falls

Previous months’ job gains were revised down by 95,000, highlighting a weaker trend beneath stable unemployment.

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Overview

  • Nonfarm payrolls increased by 139,000 in May, slightly above forecasts of 126,000 but below the 149,000 average gain over the past year.
  • The unemployment rate remained at 4.2%, maintaining a plateau seen since mid-2024.
  • Labor force participation dipped to 62.4%, driving the employment-population ratio down to 59.7%.
  • Health care added 62,000 jobs, leisure and hospitality 48,000, and social assistance 16,000, while federal government employment declined by 22,000.
  • Average hourly wages rose 0.4% to $36.24 in May, and President Trump’s import tariffs have heightened economic uncertainty that the Federal Reserve is monitoring.