The U.S. economy added jobs at a modest pace in May amid uncertainty surrounding the impact of conflict in the Middle East on the labor market.
The Bureau of Labor Statistics on Friday reported that employers added 172,000 jobs in May. That figure is above the estimates of economists polled by LSEG, who predicted a gain of 85,000 jobs.
The unemployment rate held steady at 4.3%, which was in line with the expectations of LSEG economists.
Revisions were made to the payroll numbers for the prior two months, with March revised up by 29,000 from a gain of 185,000 to a gain of 214,000; while April's report was revised up by 64,000 from a gain of 115,000 to 179,000.
Taken together, employment in March and April was 93,000 jobs higher than previously reported.