U.S. employment growth over the past three months has been the strongest in more than two years

Odaily Odaily reports that, according to U.S. media, U.S. employment growth in May exceeded all economists' expectations, with the unemployment rate remaining stable, further indicating that the labor market may be emerging from a prolonged period of weak hiring. Data released by the U.S. Bureau of Labor Statistics on Friday showed nonfarm payrolls increased by 172,000 in May, while data for the previous two months were revised upward. This brings employment growth over the past three months to its strongest level in more than two years. The report suggests that, despite recent energy price increases driving consumer confidence to historic lows, the U.S. labor market is regaining strength after employment growth nearly stalled last year. The data could also increase pressure on the Federal Reserve to consider raising interest rates to curb inflation. Following the data release, U.S. Treasuries faced selling pressure, with the two-year yield rising more than 7 basis points to 4.1%. The interest rate swap market indicates increased expectations for a Fed rate hike, with the market now almost fully pricing in a 25-basis-point rate increase by the end of the year. (Jinshi)