Friday's jobs report showed that employers were more cautious about hiring in May. The unemployment rate was 4.2%, unchanged from April, while job additions were down from the revised 147,000 jobs added in April. The number of new job postings was flat compared to the same time last year, "indicating a pause rather than a pullback," he explained. The BLS report showed that employment trended up in healthcare (which added 62,000 jobs in May), leisure and hospitality (which added 48,000 jobs), and social assistance (which added 16,000 jobs). In 2024, the economy gained 2.2 million jobs overall, less than the 3 million jobs it added in 2023.