US job creation smashes forecasts in May, fuelling rate hike bets; ‘no jet fuel shortage in Europe’ – as it happened

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Total nonfarm payroll employment rose by 172,000 in May, the Bureau of Labor Statistics reported, well above the 85,000 economists had forecast. March and April payroll figures were revised up by a combined 93,000, while the unemployment rate held at 4.3%. Traders moved to fully price a Federal Reserve interest-rate hike by year-end, and the S&P 500 fell 0.9%.