{"id":484677,"date":"2026-06-05T15:02:13","date_gmt":"2026-06-05T15:02:13","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/484677\/"},"modified":"2026-06-05T15:02:13","modified_gmt":"2026-06-05T15:02:13","slug":"u-s-job-growth-blows-past-forecasts-setting-stage-for-fed-rate-hikes","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/484677\/","title":{"rendered":"U.S. job growth blows past forecasts, setting stage for Fed rate hikes"},"content":{"rendered":"<p>The U.S. economy added 172,000 jobs in May, nearly double economists&#8217; expectations, strengthening the case for Federal Reserve rate hikes this year.<\/p>\n<p>The unemployment rate held steady at 4.3%, according to <a href=\"https:\/\/www.bls.gov\/news.release\/empsit.nr0.htm\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">data<\/a> released Friday by the Bureau of Labor Statistics.<\/p>\n<p>Bitcoin <a href=\"https:\/\/www.coindesk.com\/price\/bitcoin\" rel=\"nofollow noopener\" target=\"_blank\">BTC$60,784.58<\/a> remained under pressure following the report, trading below $62,000 as the broader crypto market nursed steep overnight declines.<\/p>\n<p>The 10-year Treasury yield jumped to 4.52% following the report. U.S. equity index futures were also lower, the Nasdaq 100 index down 1.2%. Oil prices edged modestly lower at $94 per barrel, while gold slid 1.1% to around $4,400 per ounce.<\/p>\n<p>Recent economic data continue to point to a resilient U.S. economy this week. Both the ISM Manufacturing PMI and ISM Services PMI came in above expectations and remained in expansionary territory.<\/p>\n<p>U.S. equities have had an incredibly strong run, with the S&amp;P 500 about to post gains for 10 consecutive weeks and rising roughly 10% year-to-date. However, some exuberance has faded from the semiconductor sector following Broadcom&#8217;s earnings report, which disappointed investors with a weaker-than-expected outlook for AI-related chip demand.<\/p>\n","protected":false},"excerpt":{"rendered":"The U.S. economy added 172,000 jobs in May, nearly double economists&#8217; expectations, strengthening the case for Federal Reserve&hellip;\n","protected":false},"author":2,"featured_media":484678,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[3059,72,113,61,60],"class_list":["post-484677","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-bitcoin","tag-business","tag-economy","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/484677","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=484677"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/484677\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/484678"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=484677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=484677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=484677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}