How to Trade Forex and Jobs Data with Swap Hunter
In a surprising turn, the latest US job data suggest that the labour market is more resilient than analysts had projected. According to the recent payroll data, US nonfarm employment increased by 139,000 jobs in May, slightly lower than April’s revised figure of 147,000 but higher than the consensus estimate of 130,000.
This unexpected uptick challenges earlier concerns of a sharper slowdown, amid fears of new tariffs and broader economic headwinds. While the pace of job creation has softened, the labour market continues to send mixed signals that demand a closer look.

Key Highlights:
- May Job Growth: +139K (vs. 130K expected)
- April Revisions: Downwardly adjusted to +147K
- Unemployment Rate: Steady at 4.2%
Sector-Specific Trends
Employment growth wasn’t evenly distributed. Some industries fared better than others:
- Healthcare, leisure and hospitality, and social assistance showed steady gains, signaling continued demand for services and care-related roles.
- Manufacturing and federal government jobs experienced a decline—potential early signs of budget tightening or shifting production dynamics due to supply chain constraints and tariff concerns.
This pattern reinforces the notion that while the US job engine is still running, it’s shifting gears.

What This Means for Workers
For job seekers, the positive news is that the unemployment rate remains stable, and key service sectors continue to hire. However, those in more cyclical or government-tied industries may want to stay alert to shifting priorities and potential policy changes.
Implications for Markets and Policy
Wall Street had braced for a sharper pullback in hiring, so this report could bring temporary relief. Still, policymakers at the Federal Reserve will likely keep a close eye on wage trends and broader economic indicators before making any interest rate adjustments.
If the economy continues to tread this fine line—neither overheating nor collapsing—it may lend weight to the case for a “soft landing” scenario, which economists have debated for months.
Final Thoughts US Jobs Data
May’s job data serves as a reminder that economic momentum doesn’t vanish overnight—it tapers, recalibrates, and shifts. For businesses and workers alike, staying flexible and responsive to these trends will be crucial in the coming months.
Stay tuned to Swap Hunter for regular updates on the economy, job market trends, and how these shifts impact your career, investments, and day-to-day decisions.