The U.S. economy added 272,000 jobs in May, a significant increase from the 165,000 jobs added in April, according to data released on Friday by the Bureau of Labor Statistics. The unemployment rate, however, ticked up to 4.0% from 3.9% in the previous month.
Average hourly earnings rose 0.4% in May, following a 0.2% increase in April. On a year-over-year basis, average hourly earnings increased by 4.1%.
Sectors that saw notable job growth included health care, government, leisure and hospitality, and professional, scientific, and technical services.