US adds 272,000 jobs in May, much higher than estimates

By Ovunc Kutlu

ISTANBUL (AA) - The US economy added 272,000 jobs in May, much more than market estimates, according to Labor Department figures released Friday.

The market expectation for nonfarm payrolls was to show a gain of 182,000 last month.

Job additions for April, on the other hand, were revised down by 10,000, from 175,000 to 165,000.

The unemployment rate, meanwhile, rose to 4% in May from 3.9% in April.

The market estimate for the figure was to come in at 3.9%.

The number of unemployed people slightly increased to 6.6 million in May, from 6.5 million in April, while the labor force participation rate slightly fell to 62.5% from 62.7% during that period.