May jobs report explained: Why 172,000 jobs means higher rates, pricier loans, and a Bitcoin drop

The US economy added 172,000 jobs in May, more than double the 80,000 that Wall Street economists had expected, and the unemployment rate held at 4.3%. The Bureau of Labor Statistics (BLS) also revised March and April higher by a combined 93,000 positions, which left the spring looking much stronger than anyone believed a month ago. For the people who landed those jobs, this counts as good news, and the headline numb…