CBS business analyst Jill Schlesinger shared optimistic news on the latest jobs report, which revealed the creation of 272,000 jobs in May, significantly higher than economists’ predictions and the previous month’s figures. Despite this positive development, the unemployment rate edged up to about 4% for the first time in over two years.

Schlesinger noted that job openings have decreased to just over 8 million, the lowest in more than three years, and the number of people quitting jobs has also tapered off. This suggests a potential softening in the job market, even as several industries like healthcare, government, and hospitality continue hiring.

“Big companies have been saying we’re not going to hire as much,” Schlesinger explained, “but all of that was a little bit of a distraction because we created 272,000 jobs in the month of May.”

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