Why hiring surged in May despite economic strain from the Iran war

Article excerpt

U.S. employers added 172,000 jobs in May, marking the third consecutive month of gains and defying predictions that economic headwinds would cool hiring. The resilience comes amid persistent inflation concerns, geopolitical tensions including the Iran war, and widespread anxiety about artificial intelligence's impact on the workforce. Chief economist Diane Swonk of KPMG analyzed the unexpected strength, suggesting the labor market remains more robust than many analysts anticipated despite these concurrent pressures.