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🇺🇸💼U.S. Unemployment Rate Unexpectedly Rises In May: Cable FX Macro

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  • The May jobs report showed the U.S. economy adding 272K jobs, this was above the highest economic forecast, according to data compiled by Bloomberg. Headline jobs recorded an upside surprise of 92K, the largest beat since December

  • Economists were also surprised by the uptick in the jobless rate, the increase came to end the longest sub 4% unemployment rate period since the 1960s

  • Among demographics, white unemployment rate stayed unchanged at 3.5% in May, the uptick was seen in the Latino and African American labor force. The latter jumped to 6.1% from the prior 5.6%

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