News Summary

• The u.s. economy added 172,000 jobs in May, according to the Bureau of Labor Statistics.
• The unemployment rate remained steady at 4.3%.
• There’s growing concern about wages lagging the rate of price growth.
• In April, inflation sharply jumped to a 3.8%, its highest level in three years, due to the surging price of gasoline and the resulting economic ripple effect.
• The Federal Reserve is expected to raise interest rates this year in a bid to put a lid on inflation.