The May US jobs report came in hotter than expected, with 272,000 jobs added to the economy. Yahoo Finance’s Alexandra Canal, Madison Mills, and Anjalee Khemlani join the Morning Brief to dissect the sectors that witnessed the most robust job gains during the month.
The retail sector experienced a notable uptick, adding 13,000 jobs to its workforce. Within this segment, building material, garden equipment, and supply dealers led the charge, contributing 12,000 new jobs, while department stores saw a decline of approximately 5,000 positions.
The healthcare industry created a significant number of jobs, adding 68,000 new roles in May. The ambulatory sector, which includes outpatient care facilities, witnessed the most significant gains with 43,000 new jobs — reflecting the industry’s push toward alternative and outpatient care models. Hospitals contributed to this growth by adding 15,000 positions.
The leisure and hospitality sector saw an increase of 42,000 jobs, a development that could potentially influence the Federal Reserve’s decision on potential interest rate cuts as services inflation has been a persistent headwind for the central bank’s monetary policy decisions.
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