Payrolls rose 339,000 in May, much better than expected in resilient labor market

The U.S. economy added 339,000 jobs in May and the unemployment rate rose to 3.7 percent, the Labor Department said Friday. Economists had forecast employers would grow payrolls by 190,000, a downturn from the preliminary April estimate of 253,000. The unemployment rate was expected to pick up to 3.5 percent from 3.4 percent. The labor market has been stronger than expected for several months, defying expectations that interest rate increases would push unemployment up. The Federal