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 The US economy added 280,000 jobs in May, according to the latest report from the Bureau of Labor Statistics. The unemployment rate rose, however, to 5.5% from 5.4%. The report also showed that wages rose faster than expected, with wages rising 0.3% over the prior month and 2.3% over the prior year. The labor force participation rate also ticked up to 62.9% from 62.8%. Following the report, the yield on US 10-year note yield rose to as high as 2.435%, a new year-to-date high. Stock futures remain lower. Overall, this report was a bit of a mixed bag but shows a labor market that is still adding workers while wage pressures — a missing element of the labor market the Fed had been looking for — are starting to make themselves known. Via Bloomberg, here's a quick overview of what Wall Street was looking for ahead of the report: - Nonfarm payrolls: +226,000
- Unemployment rate: 5.4%
- Average hourly earnings, month-on-month: +0.2%
- Average hourly earnings, year-on-year: 2.2%
- Average weekly hours worked: 34.5
More to come ... SEE ALSO: The economy's most disappointing chart | 
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