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Employers vote of confidence lifts economy in May
The Labor Department report shows 280000 new jobs in May with unemployment at 5.5 percent, signaling renewed momentum as hiring rises in sectors from energy to manufacturing. Economists cite improving incomes and steadier positions as signs the economy is regaining footing despite weak consumer spending and overseas headwinds. The gain accompanies higher full time employment and a faster pace of wage growth, suggesting tightening labor markets and potential Fed rate increases later in the year.
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John Silvia
Bank
Wells Fargo
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Federal Reserve
Michael Feroli
Jpmorgan Chase
Gregory Dace
Oxford Economics
MetaBank
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Firestone
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Costco
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