Employers are hiring at a restrained pace as jitters about the economy linger.
The U.S. economy added 175,000 jobs in May, according to the Department of Labor. Hiring at that rate isn't terrible, but it is unexceptional at this point. It marks a slight improvement from April, when a revised 149,000 jobs were created, but still falls in line with average job growth over the last three years.
The report was stronger than expected, and stock futures headed slightly higher, shortly after the report was released. Economists had expected the report to show 158,000 jobs were added in May.
Meanwhile, the unemployment rate ticked up to 7.6%.
Businesses are citing concerns about the cost of health care reform rules, set to go into effect next year, as a major unknown keeping them on the edge.
Overall, the U.S. economy lost 8.7 million jobs in the financial crisis, and has since gained back 6.3 million jobs.
Since job growth continued at a slow pace in May, the newest data is unlikely to change the Federal Reserve's current stimulus policies.
The central bank is looking for "substantial improvement" in the job market before it starts winding down its controversial program of buying $85 billion U.S. a month in Treasuries and mortgage-backed securities
