U.S. economy added nearly 400,000 jobs in May

Global Business

U.S. economy added nearly 400,000 jobs in May

Inflation in the U.S. has been surging, triggered, in part, by wage inflation linked to robust labor demand and Tesla owner Elon Musk has signaled his pessimism over the economy by ordering redundancies.

But the latest jobs numbers out on Friday suggest many employers are happy to keep on hiring.

They added almost 400,000 jobs last month, even as financial conditions become more expensive with interest rates rising.

CGTN’s Owen Fairclough reports.