Employers create +175,000 new jobs in May

Employers added 175,000 new jobs in May. This was not enough to keep the unemployment rate from rising to 7.6% from 7.5% in April. The stock market took this as a good sign and rose over 207 points on Friday, 6/7.  Employers have added an average of 155,000 jobs each month over the past 3 months. This is continuing evidence the economy is in recovery mode.