Instant View: US May payrolls rise up than expected

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Reuters UK

NEW YORK (Reuters) – U.S. employment increased more than expected in May, while the unemployment rate held steady at 3.6%, signs of a tight labor market that could keep the Federal Reserve’s foot on the brake pedal to cool demand. Nonfarm payrolls increased by 390,000 jobs last month, the Labor Department said on Friday. Data for April was revised higher to show payrolls rising by 436,000 jobs instead of 428,000 as previously estimated. The report also showed solid wage gains last month, sketching a picture of an economy that continues to expand, although at a moderate pace. COMMENTS: ANTHONY …

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