May Jobs Report: One Step Forward, 2 Steps Back
William_Potter By Seema Shah, Chief Global Strategist Payroll gains were hotter than expected in May, slamming the door shut on any hopes of a July policy rate cut. The latest jobs report showed that 272,000 non-farm payroll jobs were added last month, significantly beating consensus forecasts of 180,000. Wage growth also surprised to the upside…