Hiring in the US surged unexpectedly last month, continuing to defy predictions of a slowdown while raising fresh questions about when interest rates will fall.
Employers added 272,000 jobs in May, the US Labor Department said, above expectations of 185,000 new roles.
The US jobs market is being closely by the country’s central bank for how it is holding up under the weight of borrowing costs which are at the highest level for more than 20 years.
The Federal Reserve has raised interest rates sharply to fight inflation, which measures the pace of price rises. The Fed has cited the strength in employment as a sign that the economy can handle the current rates.
US jobs surge casts doubt over interest rate cuts
