The Labor Department reported today that U.S. employers added close to a quarter million workers to their payrolls in May. Hiring occurred in every major sector with the biggest gains in construction and health care. The unemployment rate held steady at 5.6, reflecting an influx of unemployed workers who resumed their work search because of an improving labor market. The figures met the expectations of experts who believe the Federal Reserve will move to increase interest rates.
See "U.S. Employers Add 248,000 Jobs in May", Leigh Strope, Chicago Tribune, June 3, 2004