Employers stepped up hiring in May, a sign the economy was growing modestly but not strong enough to convince the Federal Reserve to scale back the amount of cash it is pumping into the banking system.
The United States added 175,000 jobs last month, just above the median forecast in a Reuters poll, Labor Department data showed on Friday.
The unemployment rate ticked a tenth of a percentage point higher to 7.6 percent, with the increase actually giving a relatively hopeful sign as it was driven by more workers entering the labor force.
via Reuters
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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