The NFP data reading in the United States jumped by 339,000 in May, based on a report by the Bureau of Labor Statistics on Friday, well above expectations. Professional and business services led the increase with 64,000 jobs added in May, followed by health care by 52,000.
Average hourly earnings rose 11 cents, or 0.3%, to $33.44 on a monthly basis, up 4.3% from May 2022.
Meanwhile, the unemployment rate increased by 0.3 percentage points from April to 3.7% in May. The number of unemployed increased by 440,000 to 6.1 million month on month.
The labor force participation rate was unchanged at 62.6%, and the number of long-term unemployed was also little changed from April at 1.2 million, accounting for 19.8% of total unemployment.
The US dollar index, which measures the greenback's strength against six major currencies, strengthened slightly by 0.03% to trade at 103.537 after the jobs data was released.
