9 p.m., June 28
U.S. gains 175,000 jobs in May
But unemployment rate rises as more join labor force
The United States gained 175,000 jobs in May, more than economists had expected. That is a sharp improvement from the 149,000 in April. However, the unemployment rate rose to 7.6% from 7.5% in April as more Americans joined the labor force, seeking work. The stock market initially reacted positively.