Hot US jobs data raise odds Fed will keep rates higher for longer
Nonfarm payrolls rose 253,000 last month, while economists had expected an increase of 185,000
05 May 2023 - 16:55
The unexpected pickups in US hiring and wages last month increase chances the Federal Reserve will hold interest rates high for longer and potentially keep the door open to an 11th straight hike in June.
Nonfarm payrolls rose 253,000 last month, a Bureau of Labor Statistics report showed Friday. Economists had expected an increase of 185,000. The unemployment rate fell back to a multi-decade low of 3.4%...
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