U.S. employment increased more than expected in May, but a moderation in wages could allow the Federal Reserve to skip an interest rate hike this month for the first time in more than a year.
Nonfarm payrolls increased by 339,000 jobs last month, the Labor Department said on Friday. Data for April was revised up to show payrolls rising by 294,000 jobs instead of 253,000 as previously reported. (Reuters)
Looking ahead to next week: Factory orders figures for April will be reported on Monday. On Wednesday, April’s figures for both consumer credit and the U.S. trade deficit will be released. On Thursday, a report on wholesale inventories for April will be released. (MarketWatch.com)
