US Hiring Surged in May, Boosting Bets on Fed Rate Hike

US job growth topped all forecasts in May and the unemployment rate held steady at 4.3%, offering the clearest sign yet that the labor market may be breaking out of a prolonged period of lackluster hiring. Frances Donald, Chief Economist at… US job growth topped all forecasts in May and the unemployment rate held steady at 4.3%, offering the clearest sign yet that the labor market may be breaking out of a prolonged period of lackluster hiring. Frances Donald, Chief Economist at RBC, discusses the jobs data and what it signals for the US economy as inflation begins to outpace wage growth. (Source: Bloomberg)