May U.S. payrolls rise 172,000, unemployment stays 4.3% as rate-cut bets cool

U.S. hiring stayed solid in May, with nonfarm payrolls up 172,000 and the unemployment rate unchanged at 4.3%. Average hourly earnings increased 0.3% month-over-month and 3.4% year-over-year, data that could lessen urgency for rapid Federal Reserve rate cuts that crypto traders monitor closely.