US added 272K jobs in May, better than expected, but unemployment rate increases to 4%

The Labor Department reported Friday the U.S. economy added 272,000 in jobs in May but that the unemployment rate for last month increased to 4%.

The numbers number was for non-farm payrolls and exceeded the Dow Jones projection of 190,000, according to CNBC. 

The April number was 165,000.

However, the unemployment rate for May edged up to 4%, marking the first time it has reached that level since January 2022, also according to CNBC.

A year earlier, the jobless rate was 3.7%, according to the report, by the department's Bureau of Labor Statistics.