The US Bureau of Labor Statistics released a report moments ago showing that total non-farm payrolls (NFP) increased by 172,000 in May, compared to 115,000 in April. This exceeded expectations of an additional 85,000 jobs.

Meanwhile, the unemployment rate remained unchanged at 4.3% in April, matching forecasts, while the labor force participation rate held steady at 61.8%.

Earnings rose by 0.3% month-over-month in May, up from 0.2% in April, and increased year-over-year to 3.4%, compared to 3.6% in April.

By sector, the goods-producing sector added 28,000 jobs, while the manufacturing sector added 7,000, and the construction sector added 17,000. In contrast, the private services sector added 92,000 jobs in April, led by the leisure and hospitality sector with 52,000 new jobs, followed by the health care and social assistance sector with 47,000.