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Key Points:
US employers added 139,000 jobs in May and the unemployment rate stayed steady at 4.2%, according to the Bureau of Labor Statistics. Average hourly earnings rose by 3.9% year-over-year in May. Preliminary job growth from March and April was revised down by a combined 95,000 jobs.
While the US job market continued to add a decent number of jobs in May, it’s notably cooler than it was even a few months ago, and continues to soften – to the point where there’s not much room for further slowdown before unemployment meaningfully starts to rise. And there