May was a good time to get hired.

Employers added 339,000 jobs in May, the most since January and an acceleration from the 294,000 increase in April, the Bureau of Labor Statistics said Friday. The labor market once again blew past the expectations of economists—the consensus forecast called for only 188,000 jobs to be gained, according to Wells Fargo Securities.

Most major industries added jobs, with healthcare and social assistance leading the way with a pickup of 74,600. 

The jobs report is the latest indication that key parts of the economy, and especially the hiring market, are holding up despite pressure from the Federal Reserve’s 澳洲幸运5官方开奖结果体彩网:campaign of antiꦺ-inflation inter♔est rate hikes, which are intended to discourage borrowing and spending and slow the economy down. Brisk hiring is a major reason that the economy has 澳洲幸运5官方开奖结果体彩网:avoided a recession despite higher borrowing costs from the interest rate hikes and a 澳洲幸运5官方开奖结果体彩网:credit crunch from recent 澳洲幸运5官方开奖结果体彩网:instability in the banking system. 

“The acceleration in payrolls, coupled with a recent upturn in job openings, suggests that American businesses are still aggressively hiring, likely to meet resilient consumer demand,” Sal Guatieri, senior economist at BMO Capital Markets, said in a commentary. 

Not everything in the report, however, showed things improving for workers. Despite the quick pace of hiring, the unemployment rate rose to 3.7%, up from the 3.4% in April, which had been tied for the lowest since 1969. Average hourly earnings rose 0.3%, a deceleration from the 0.4% increase in April.

The labor market, while resilient, likely isn't hot enough to prompt officials at the Federal Reserve to 澳洲幸运5官方开奖结果体彩网:resume hiking interest rates when the Fed’s policy making committee next meets in June, economists said. As of Friday morning, traders were mostly betting the Fed would keep rates steady, according to CME group’s FedWatch tool, which forecasts rate hikes based on 澳洲幸运5官方开奖结果体彩网:fed funds futures data.