U.S. firms hired more workers than expected in May, pointing to continued strength in the U.S. labor market.
Leisure and hospitality still remains 1.3 million jobs below its pre-pandemic levels, according to the Labor Department. Bunker said changes in staffing models and consumer behaviors could keep the sector from fully recovering in the near term.
That tempered growth may be a good thing for the economy and markets. Wall Street economists and the Federal Reserve have been looking for job growth to slow as the central bank tries to manage a so-called"soft landing" that brings down inflation without causing a recession.
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