>> The US economy is growing not as quickly as expected but robust enough to mean a likely rise in interest rates. The Labor Department on Friday saying employers added 138,000 jobs in May, below the monthly average of 188,000 for the past year. Economists forecast growth of 185,000 jobs last month.
The jobs numbers from March and April revise lower. The economy needs to create between 75,000 and 100,000 jobs each month to keep pace with population and job gains may be slowing as the market nears full employment. The unemployment rate ticking down one-tenth of a percent to 4.3, its lowest level in 16 years.
The Federal Reserve, likely, to see the May jobs report as further evidence the economy is strong enough to weather further rate hikes. US President, Donald Trump, who inherited a robust jobs market from his predecessor has vowed to boost the economy by slashing taxes and cutting regulation. Manufacturers lost 1,000 jobs in May and retail shed 6,100, a fourth straight month of losses for that sector.