The U.S. economy added a robust 280,000 jobs in May, and the unemployment rate rose to 5.5% from a near seven-year low of 5.4% in April, according to the latest employment situation report released by the Labor Department.
That number beat economists’ expectations of 225,000, and job gains came from a wide range of sectors, including professional and business services, leisure and hospitality, healthcare, and construction, to name a few.
The jobless rate rose because more people, such as new college graduates, entered the workforce, suggesting growing confidence in the jobs market.
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SOURCE: TIME, Fortune, Chris Matthews