AI Data Insight
In May 2026, the total number of unemployed persons in the US reached 7.476 million, surging by 572,000 from the previous month, forming a sharp contrast with the better-than-expected nonfarm payroll increase of 172,000 during the same period. Although the unemployment rate superficially held steady at 4.3%, the expansion in absolute unemployed numbers reflects increased labor supply and structural changes. The new normal of "low-hire, low-fire" is expected to continue influencing the Federal Reserve's policy considerations in the second half of the year.