US employers add 172,000 jobs in May (opens in new tab)

U.S. employers added 172,000 jobs in May, and the unemployment rate held at 4.3%, the Labor Department reported Friday. The payroll gain exceeded forecasts cited by several sources, including estimates of about 80,000 to 105,000 jobs, and followed upward revisions that added a combined 93,000 jobs to March and April. After the report, traders increased bets that the Fed could raise rates later this year. U.S. stocks fell sharply Friday as technology and chip shares sold off: the Nasdaq droppe...