217,000 jobs added in May

Associated Press

WASHINGTON

U.S. employers added 217,000 jobs in May, a substantial gain for a fourth- straight month, fueling hopes that the economy will accelerate after a grim start to the year.

Monthly job growth has averaged 234,000 for the past three months, up sharply from 150,000 in the previous three. The unemployment rate, which is calculated from a separate survey, remained at 6.3 percent in May. That is the lowest rate in more than five years.

The report Friday from the Labor Department signaled that the U.S. economy is strengthening steadily and outpacing struggling countries in Europe and Asia. U.S. consumers are showing more confidence. Auto sales have surged. Manufacturers are expanding steadily. Service companies are growing more quickly.

The job market has reached a significant milestone: Nearly five years after the Great Recession ended, the economy finally has regained all the jobs lost in the downturn.