May nonfarm payrolls rise 172,000; unemployment at 4.3%

Key facts

• Total nonfarm payrolls increased by 172,000 in May.
• The unemployment rate remained at 4.3% in May.
• Nonfarm employment is considered a key indicator by the NBER Business Cycle Dating Committee.

In May, the United States saw an increase of 172,000 in total nonfarm payrolls. The unemployment rate for the same month remained unchanged at 4.3%. This figure is significant as nonfarm employment is widely believed to be one of the four primary indicators that the NBER Business Cycle Dating Committee heavily considers when identifying economic cycles.