For months, we heard the market was cooling off and jobs were drying up. But the latest numbers show that regular people are still finding work at a pace that surprised almost everyone.

WHAT HAPPENED

The US labor market added 172,000 new jobs in May. This was much higher than what experts thought would happen.

This marks the third month in a row where more than 100,000 people found new roles. It is the first time we have seen a streak like this since early 2024.

Even the numbers from March and April were better than we first thought. Officials added 93,000 more jobs to those old reports after checking the data again.

WHAT THE EVIDENCE SHOWS

172,000 new jobs added in May.

• 4.3% of people are still looking for work.
• 93,000 extra jobs added to March and April totals.
• 188,000 is the average gain over the last three months.
• 3 months in a row with over 100,000 new jobs.

THE BIGGER QUESTION

If the market is adding this many jobs, why does it still feel so hard for families to get ahead? We see the hiring numbers go up, but we have to ask if these new jobs pay enough to cover the rising cost of rent and food.

Is a "strong" market really strong if the people working in it can't afford a house?

WHAT HAPPENS NOW

For most people, this means the risk of a sudden crash is lower. Businesses are still looking for help, which gives workers a bit more power to ask for better pay or hours.

It also means the government might wait longer to lower the cost of borrowing money. If you are looking to buy a car or a home, your monthly payments might stay high for a while.

WHAT WE STILL DON'T KNOW

1. Are these full-time jobs with health care or just part-time side gigs?
2. Which parts of the country are seeing the most new jobs?
3. Will this growth finally make the central bank change its mind on rates?