U.S. jobs market seen firming despite lackluster growth

From reuters.com

U.S. job growth was likely solid in May and wages probably picked up a bit, suggesting sufficient momentum in the economy for the Federal Reserve to raise interest rates later this year. Nonfarm payrolls likely increased by 225,000 positions last month after rising by 223,000 in April, according to a Reuters survey of economists. The unemployment rate is expected to hold steady near a seven-year low of 5.4 percent. The Labor Department will release its closely followed employment report at 8:30 a.m. on Friday amid concerns over the economy's inability to rebound strongly from a first-quarter slump. "While ... (full story)