and a sign that companies are still confident enough in the economy to keep hiring despite persistently high interest rates.
Still, Friday's report from the government included some signs of a potential slowdown. The unemployment rate, for example, edged up for a second straight month, to a still-low 4%, from 3.9%, ending a 27-month streak of unemployment below 4%. That streak had matched the longest such run since the late 1960s.
Hourly paychecks also accelerated last month, a welcome gain for workers but a trend that could contribute to stickier inflation. Hourly wages rose 4.1% from a year ago, faster than the rate of inflation and more quickly than in April. Some companies may raise their prices to offset their higher wage costs.
Source: Healthcare Press (healthcarepress.net)
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