The US economy created 172,000 jobs in May, far exceeding economists’ forecasts, according to MarketWatch. The unemployment rate remained unchanged. Economists had expected a smaller increase in hiring.
The surprisingly strong jobs report could reignite debate over further interest rate hikes by the Federal Reserve. The Fed closely monitors labor market data to guide its monetary policy. A robust job market typically supports tighter rate moves.
Source: www.marketwatch.com
