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May jobs report expected to show hiring slowdown, flat unemployment rate

Josh Schafer • Reporter
Thu, June 5, 2025 at 2:22 PM EDT 2 min read

The May jobs report is expected to show hiring slowed while the unemployment rate held flat. The data's release will come as investors closely watch for any further signs of slowing in the US labor market.

The Bureau of Labor Statistics data is slated for release at 8:30 a.m. ET on Friday. Economists expect nonfarm payroll to have risen by 125,000 in May and the unemployment rate to have held steady at 4.2%, according to consensus estimates compiled by Bloomberg.

In April, the US economy added 177,000 jobs. Meanwhile, the unemployment rate held flat at 4.2%.

Here are the numbers Wall Street is expecting Friday, according to data from Bloomberg:

• Nonfarm payroll: +125,000 vs. +177,000 in April
• Unemployment rate: 4.2% vs. 4.2%
• Average hourly earnings, month over month: +0.3% vs. +0.2%
• Average hourly earnings, year over year: +3.7% vs. +3.8%
• Average weekly hours worked: 34.3 vs. 34.3

The release comes as signs of slowing in the jobs market have begun to emerge in recent data. On Wednesday, ADP data showed the private sector added 37,000 jobs in May, the lowest monthly total in more than two years. Then on Thursday, weekly filings for unemployment benefits hit their highest level since October 2024. Meanwhile, continuing claims hovered near their highest level in nearly four years.

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