May Jobs Report: 138000 More On Payrolls; Unemployment Dips Slightly

On Thursday, payroll agency ADP reported 253,000 new private-sector jobs from the previous month, with Mark Zandi, the chief economist of Moody's Analytics, declaring, "Job growth is rip-roaring".

The U.S. economy added 138,000 jobs in May, according to the monthly jobs report released by the Bureau of Labor Statistics on Friday morning.

"It does help indicate continued and increasing strength in the overall United States employment picture, which bodes very well for an impending Fed rate hike", Gain Capital's head of research James Chen wrote in a research note on the latest ADP data, Reuters reported.

Long-dated U.S. Treasury yields fell to almost seven-month lows while short-dated yields touched their lowest in more than two weeks after the U.S. employment data suggested a cautious Fed policy beyond June.

The ADP report, however, is not a good predictor of the private payrolls component of the employment report.

Economists polled by Reuters are looking for US private payroll employment to have grown by 173,000 jobs in May, down from 194,000 the month before.

Traders work on the floor of the New York Stock Exchange. The number of people working part-time who want a full-time job fell to a nine-year low, while the tally of discouraged workers plunged to the fewest since 2007. March's numbers dropped from 79,000 to 50,000, and April's from 211,000 to 174,000.

Third time around for Cavaliers-Warriors
I can't go out there and do everything on my own, or I can't go out there and just let my team mates do all the work for me. The addition of Kevin Durant to the Warriors makes for one more thing LeBron James and the Cavaliers have to contend with.

Most Suns fans think the NBA's lottery system is rigged
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Alaska volcano erupts again; aviation alert raised to red
Flights have been rerouted and even grounded in the past few months as a direct result of ash clouds spewing from Bogoslof. Volcano eruptions have wreaked havoc on air travel in the past, not to mention caused significant environmental impact.

Crude oil futures are tumbling $1.03 to $47.33 a barrel after inching up $0.04 to $48.36 a barrel on Thursday. Hong Kong ended up 0.4 percent, while Sydney put on 0.9 percent and Seoul gained 1.2 percent.

Stocks in Europe joined the party with euro zone blue-chips up 0.9 per cent and UK's FTSE 100 up 0.4 per cent and hovering near its highest-ever levels. Yet the numbers are an indication of both broader trends that analysts are anticipating - such as businesses having difficulty finding skilled and experienced workers as the US nears full employment - and ongoing puzzles such as the lack of larger paychecks for workers.

"We're in a mature phase of the cycle, job growth is going to slow down". The Fed consensus thinks the long-term average unemployment rate is 4.7 percent and key policymakers believe a lower unemployment generates higher future inflation.

A reading above 50 in the ISM index indicates an expansion in manufacturing, which accounts for about 12 percent of the US economy.

The unemployment rate, meanwhile, fell again to 4.3% from 4.4% and touched the lowest level since 2001.

Shares of Lululemon Athletica (LULU) are moving sharply higher in pre-market trading after the athletic apparel maker reported fiscal first quarter results that exceeded estimates on both the top and bottom lines. The discount retailer also raised its full-year forecast.

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