Job Growth Much Better Than Expected

“The U.S. economy added far more jobs than expected in May, countering fears of a slowdown in the labor market and likely reducing the Federal Reserve’s impetus to lower interest rates,” CNBC reports.

New York Times: “The unexpectedly strong job growth shows that employers remain undaunted, despite pressure from high interest rates and slowing consumer spending, and are finding workers as immigration has provided a boost to the labor supply.”