Mixed Signals in U.S. Job Market: Hiring Expected to Slow While Job Openings Spike

The US government is set to release its monthly report on hiring, unemployment, and wages, with forecasters expecting the Labor Department to show that US employers added 188,000 jobs in May. The Federal Reserve is watching job market data to decide whether to take a break from increasing interest rates. While some Fed officials favor holding off on a rate increase in June, others have underlined that the Fed may not be done raising interest rates altogether. Despite recession forecasts, the US economy is continuing to grow, with consumer spending and industrial output increasing in April.