May Jobs Report

#Jobs — Gains blow out expectations, UE rises to highest since Jan 2022

Gain of +272,000 non-farm payroll jobs, vs. expected gain of 190K
Unemployment up 0.1% to 4.0%, vs expectation of unchanged
U6 unemployment 7.4%, unchanged
Labor force participation down 0.2 to 62.5%
Average hourly earnings up by 0.4%, more than expected; +4.1% Y/Y

March jobs revised down by -5K to +310K
April jobs revised down by -10K to +165K