FX.co ★ US Non Farm Payrolls Slightly Beat Forecasts

In May 2025, U.S. nonfarm payrolls saw an increase of 139,000, reflecting a slight decrease from April’s revised figure of 147,000 but surpassing the anticipated 130,000. Employment trends continued upward in the health care sector, particularly in hospitals (adding 30,000 jobs) and ambulatory health services (adding 29,000 jobs). The leisure and hospitality sector also showed growth, with food services and drinking places gaining 30,000 jobs, contributing to an overall increase of 48,000 in the sector. Meanwhile, social assistance saw an addition of 16,000 jobs. Contrarily, the federal government experienced a decline of 22,000 jobs in May, marking a total loss of 59,000 jobs since January. The manufacturing industry faced a reduction of 8,000 jobs. Additionally, payroll figures for March and April were adjusted downward, resulting in a combined employment total that is 95,000 less than previously reported. These figures suggest a slowing but still resilient labor market. However, recent policy changes from the Trump administration may exert downward pressure on employment rates in the forthcoming months.