Instant Reaction: US Adds 172,000 Jobs, Boosting Bets on Fed Rate Hike by Year-End

US job growth topped all forecasts in May and the unemployment rate held steady, offering the clearest sign yet that the labor market may be breaking out of a prolonged period of lackluster hiring. Nonfarm payrolls increased 172,000 last month after upward revisions to the prior two months, according to Bureau of Labor Statistics data out Friday. That marked the strongest three-month advance in more than two years. The unemployment rate was unchanged at 4.3%, and average hourly earnings rose 0.3%. Bloomberg's Tom Keene and Paul Sweeney break down the numbers with: Claudia Sahm, Chief Economist at New Century AdvisorsKevin Gordon, Head of Macro Research and Strategy for the Schwab Center for Financial Research at Charles SchwabKristina Campmany, Senior Portfolio Manager at InvescoSee omnystudio.com/listener for privacy information.