US added 339k jobs in May

The latest jobs report defied expectations, according to experts.
1:14 | 06/03/23

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Transcript for US added 339k jobs in May
BRUCE TONIGHT, MARY, THANK YOU. AND OF COURSE, THE WHITE HOUSE AND OF COURSE, THE WHITE HOUSE CONSIDERS THAT DEBT DEAL A MAJOR CONSIDERS THAT DEBT DEAL A MAJOR VICTORY. AND THEY ALSO WELCOME VICTORY. AND THEY ALSO WELCOME THE NEWS ON THE ECONOMY TODAY, THE NEWS ON THE ECONOMY TODAY, THE MAJOR NEWS ON AMERICAN JOBS THE MAJOR NEWS ON AMERICAN JOBS , EMPLOYERS ADDING 339,000 JOBS , EMPLOYERS ADDING 339,000 JOBS LAST MONTH. THAT'S NEARLY DOUBLE LAST MONTH. THAT'S NEARLY DOUBLE WHAT ANALYSTS HAD PREDICTED. WHAT ANALYSTS HAD PREDICTED. UNEMPLOYMENT TICKING UP SLIGHTLY UNEMPLOYMENT TICKING UP SLIGHTLY TO 3.7. THE DOW TODAY SOARING TO 3.7. THE DOW TODAY SOARING MORE THAN 700 POINTS ON THE JOBS MORE THAN 700 POINTS ON THE JOBS NEWS AND ON CONGRESS CLINCHING NEWS AND ON CONGRESS CLINCHING THAT DEBT CEILING DEAL. LET'S THAT DEBT CEILING DEAL. LET'S BRING IN OUR CHIEF BUSINESS AND BRING IN OUR CHIEF BUSINESS AND ECONOMICS CORRESPONDENT, REBECCA ECONOMICS CORRESPONDENT, REBECCA JARVIS TONIGHT. AND, REBECCA, I JARVIS TONIGHT. AND, REBECCA, I KNOW YOU'VE BEEN TRACKING THESE KNOW YOU'VE BEEN TRACKING THESE NUMBERS AND WHAT THIS COULD ALL NUMBERS AND WHAT THIS COULD ALL MEAN IN THE EFFORT TO TAME MEAN IN THE EFFORT TO TAME INFLATION IN THE US. WELL, INFLATION IN THE US. WELL, THAT'S RIGHT, DAVID. AND THIS IS THAT'S RIGHT, DAVID. AND THIS IS A JOBS REPORT THAT DOESN'T MAKE A JOBS REPORT THAT DOESN'T MAKE THE FED'S JOB AHEAD ANY EASIER THE FED'S JOB AHEAD ANY EASIER OR CLEARER IN ITS FIGHT AGAINST OR CLEARER IN ITS FIGHT AGAINST INFLATION. WE'VE NOW SEEN 14 INFLATION. WE'VE NOW SEEN 14 STRAIGHT MONTHS OF JOB CREATION STRAIGHT MONTHS OF JOB CREATION AHEAD OF EXPECTATIONS. AND WHILE AHEAD OF EXPECTATIONS. AND WHILE WAGES ARE STARTING TO COOL, THEY WAGES ARE STARTING TO COOL, THEY ARE NOW ESSENTIALLY KEEPING UP ARE NOW ESSENTIALLY KEEPING UP WITH INFLATION. BUT ECONOMISTS WITH INFLATION. BUT ECONOMISTS WOULD LIKE TO SEE THAT INFLATION WOULD LIKE TO SEE THAT INFLATION CONTINUE TO GO LOWER. THE FED'S CONTINUE TO GO LOWER. THE FED'S JOB AHEAD IN TEN DAYS IS TO MAKE JOB AHEAD IN TEN DAYS IS TO MAKE A NEW DECISION ABOUT INTEREST A NEW DECISION ABOUT INTEREST RATES, AND THEY WILL HAVE TO RATES, AND THEY WILL HAVE TO BALANCE WHETHER OR NOT THE RATE BALANCE WHETHER OR NOT THE RATE HIKES THEY'VE ALREADY DONE SO HIKES THEY'VE ALREADY DONE SO FAR HAVE TAKEN THEIR FULL EFFECT FAR HAVE TAKEN THEIR FULL EFFECT OR MORE RATE HIKES ARE OR MORE RATE HIKES ARE NECESSARY. AND DAVID, WHETHER NECESSARY. AND DAVID, WHETHER THEY CAN DO THATWITHOUT CAUSING THEY CAN DO THATWITHOUT CAUSING A RECESSION, DAVID, REBECCA A RECESSION, DAVID, REBECCA JA

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