In May, US Employers Added More Jobs than Predicted.

According to fresh data, US companies added 390,000 new positions in May, which was higher than projected. Though May's gain was the weakest in a year, the number from the US Labor Department topped economists' expectations for a 325,0000 increase in new jobs. For the third month in a row, the unemployment rate remained at 3.6 percent.

As fast-rising prices heighten fears of a potential downturn, the condition of the labour market in the world's largest economy is being attentively monitored. Some corporations have announced plans to slow or freeze recruiting in recent weeks.

Walmart and Amazon, among other retail behemoths, have admitted to hiring too quickly earlier this year, resulting in lower profits as rising prices proved more difficult to pass on to customers.

Meanwhile, electric carmaker Tesla is reportedly halting hiring and has warned that 10% of its paid workers may be laid off. Tesla CEO Elon Musk expressed his dissatisfaction with the economy in a communication to employees obtained by the news agency Reuters. Consumer and financial market sentiment have recently deteriorated.

According to data, the annual rate of inflation in the United States reached 8.3 percent in the year ending in April, a tiny decrease from the rate recorded in March but the highest since 1981. According to analysts, job growth in May remained steady, but at a slower pace than the previous year.