US job growth shot higher in May, jumping to 272,000, much higher than expected, while the nation’s jobless rate broke a 27-month streak of below-4% unemployment.
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May’s job gains are considerably higher than the April total, which was revised down to 165,000. The May data came in well above expectations for 180,000, according to Bureau of Labor Statistics data released Friday.
The unemployment rate rose to 4% from 3.9%. It’s the first time in more than two years that the jobless rate is not below 4%.
Service-providing industries accounted for the bulk of the month’s job gains, with health care and social assistance continuing to lead the way, with 83,500 jobs added.
This story is developing and will be updated
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