US employment surged in May with 172,000 new jobs added, far surpassing market predictions. The unemployment rate remained stable, indicating continued strength in the American labor market.

US employment growth surged in May, beating market expectations, while the unemployment rate remained steady, government data showed on Friday, with the labour market in the world’s largest economy sustaining recent gains. “Total nonfarm payroll employment increased by 172,000 in May, and the unemployment rate was unchanged at 4.3 per cent,” the US Bureau of Labor Statistics said. Economists polled by Dow Jones Newswires and the Wall Street Journal had expected job growth of 80,000...