Economists Highlight Job Market Gaps Amid Strong Hiring Surge

WHO:

Alternet - Heather Long, chief economist at Navy Federal

Alternet - Mark Hamrick, Senior Economic Analyst at Bankrate

Alternet - Donald Schneider, former chief economist for the GOP Ways and Means Committee

Alternet - Pete Schiff, chief economist at Europac

Bloomberg Markets - Frances Donald, Chief Economist at RBC

WHAT:

Alternet - The U.S. gained 172,000 jobs in May.

Alternet - Wage growth in May was reported at 3.4 percent for the past year.

Alternet - May inflation was likely to be around 4 percent.

Bloomberg Markets - The unemployment rate held steady at 4.3%.

WHY:

Alternet - Heather Long stated that inflation is outpacing wage gains, making it difficult for workers to find jobs that keep up with current inflation.

Alternet - Mark Hamrick noted that affordability challenges have reduced job mobility.

Alternet - Donald Schneider suggested a correlation between rising job numbers and the removal of Trump’s tariffs.

Alternet - Pete Schiff indicated that job growth was primarily in leisure, hospitality, and government sectors, which increases trade deficits.

HOW:

Alternet - The job growth rate began leveling off as Trump’s tariffs fell at the end of the previous year, and surged after the Supreme Court's decision in February to strike them down.

(UPDATED June 5, 2026 19:35 UTC)

The U.S. economy saw a gain of 172,000 jobs in May, with wage growth reported at 3.4 percent over the past year, while the unemployment rate remained steady at 4.3 percent. Economists, including Heather Long and Mark Hamrick, highlighted that inflation is outpacing wage gains, creating affordability challenges that hinder job mobility. Notably, Donald Schneider pointed to the removal of Trump’s tariffs as a factor in the rising job numbers, with job growth primarily concentrated in the leisure, hospitality, and government sectors.