The labor market outperformed forecasts yet again in May, according to government data released today. Employers added 272,000 jobs, easily topping the average monthly gains over the previous year. Wages also rose 4.1 percent from a year ago, beating expectations.
The new numbers suggested that the job market continues to be robust: Americans have plenty of options for work. But the report wasn’t all good news. The unemployment rate, which remains historically low, ticked up to 4 percent for the first time since January 2022.
Our economics reporter Ben Casselman said the report’s mixed signals were frustrating but not unusual. He explained what to make of the conflicting pictures.
More concerning for the Fed, the reported wage and job growth complicates the path toward the steadily cooling economy that policymakers have sought. Instead, the data hinted that inflation might not yet be vanquished.
President Biden celebrated the strong labor market — which would have gotten almost any of his predecessors re-elected. But for him, it appears, the job-creation boom may not be enough.
Biden tightened mileage rules to give E.V.s a leg up
The Biden administration today announced rules that would require automakers to significantly increase fuel efficiency. The new standards are part of the president’s effort to transform the American auto market into one dominated by electric vehicles.
Under the new regulations, cars sold in the U.S. would have to achieve an average fuel economy of 65 miles per gallon by 2031, up from 48.7 miles per gallon today. Light trucks, including pickups and S.U.V.s, would have to achieve an average mileage of 45 miles per gallon, up from 35.1 miles.
The southern border could be closed for many months
The U.S. border with Mexico is now closed to nearly all migrants seeking asylum, after an executive order by President Biden went into effect. Migrants in the border towns of Mexicali and Ciudad Juárez have been turned away.
If the new restrictions survive legal challenges, they could be around for a while: Biden’s order was designed to keep the border closed at least through Election Day to reduce one of the president’s biggest vulnerabilities in his campaign. The border would only open to asylum seekers if illegal crossings drop significantly.
The bigger question is how broadly Biden’s order can be enforced. There are still ways for people to illegally cross the 2,000-mile border.
Thomas disclosed trips paid for by a G.O.P. donor
Justice Clarence Thomas acknowledged that he had accepted additional luxury trips from a conservative billionaire to an Indonesian island and a secretive all-male club in California. The travel, taken in 2019, was initially revealed by ProPublica, but this is the first time Thomas acknowledged them on his financial disclosures.
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There’s a lot to look forward to on TV this summer
The next few months of releases include a whole bunch of audience-tested favorites and star-studded shows. Unfortunately, that means there’s not a lot of risk or experimentation, our critic Mike Hale writes. But on the plus side, there’s probably something for everyone to enjoy.
Check out Mike’s list, which includes returning hits like “The Bear” and “Only Murders in the Building,” along with new arrivals from Jake Gyllenhaal and Natalie Portman.
One last spin for Pat Sajak
After guiding contestants through 50,000 Hangman-style word puzzles over 43 years, and handing out more than $250 million in prize money, Pat Sajak will give the big wheel a final spin tonight, capping one of the most impressive runs in television history.
The “Wheel of Fortune” host has been a fixture in millions of households. A half-dozen presidents have come and gone, and broadcast television has lost some of its luster, but viewers could always rely on Sajak to show up every night, in jacket and tie, with the same cool demeanor.
Have an enterta_n_ng weekend.
Thanks for reading. I’ll be back on Monday. — Matthew
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