The Labor Department released its closely watched May jobs report Friday morning.
It was better than some expected. But some analysts say it suggests that headwinds from the highest inflation in four decades, global supply chain issues, and increasing worker shortages are affecting the labor market.
The U.S. added some 390,000 jobs in May for the 17th consecutive month of gains. But President Joe Biden explained he knows Americans are worried.
“I know that even with today’s good news a lot of Americans remain anxious, and I understand the feeling,” he said.
Though the lowest number of jobs added to the economy in a year, experts say it shows a resilient job market even amid concerns the economy will weaken in the coming months, as the Fed raises interest rates to fight inflation and Americans are feeling the strain of rising prices on all fronts.
“There’s no denying that…