Unemployment down to 3.8% after U.S. beats jobs expectations

The U.S. added 223,000 jobs in May, up from 164,000 jobs added in April and 135,000 in March. The unemployment rate edged down to 3.8% from 3.9% in April.

Economists on Wall Street estimated that the economy added 190,000 jobs last month, and that the unemployment rate would remain unchanged at 3.9%.

Analysis:

• University of Michigan professor Justin Wolfers tweets: "The economy keeps on keeping on. A 9-year recovery continues, and it's now in a pretty good place."