America has added over 1 million jobs in 2015


In a good sign for people looking for work, the U.S. economy gained 280,000 jobs in May. Economists surveyed by CNNMoney projected there would only be 222,000 jobs gains.

The unemployment rate ticked up slightly in May to 5.5%, according to the Labor Department. That increase is likely a sign that more people returned to the work force.

May's jobs report is welcome news after the winter slowdown. The economy actually contracted in the first three months of this year, sparking concerns that hiring would taper off.



On Thursday, the International Monetary Fund expressed concern over the U.S. job market, especially how worker pay isn't going up much.

Wages grew only 2.3% in May, well below the 3.5% wage growth the Federal Reserve wants to see. Still, wage growth beat expectations. Wages remain the last major economic measure to turn the corner and make significant progress.

March was the worst month of job growth this year, but the Labor Department revised up March's job gains from 85,000 to 119,000 on Friday. April's job gains were revised down slightly to 221,000.

Overall, Friday's job news is a positive surprise for the economy.


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