The BLS released the Employment Situation report for May. Payroll employment increased by 138 thousand, and the prior two months were revised downward by a total of 66 thousand. The unemployment rate fell to 4.3% from 4.4% in April, but only because the number of people in the labor force declined faster than the number of people employed in the household survey. The labor force participation rate slipped to 62.7% from 62.9%.
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