US Labor Market Sends Mixed Signals, Giving Fed Reason to Pause

The US labor market sent conflicting signals in May as payrolls surged along with joblessness, giving Federal Reserve officials more reason to pause interest-rate hikes.

Nonfarm payrolls increased 339,000 last month after an upwardly revised 294,000 advance in April, a Bureau of Labor Statistics report showed Friday. The unemployment rate rose to 3.7%, while wage growth slowed.

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Here are some of the top-line figures in the report:

The advance was broad-based, reflecting gains in professional and business services, government and health care.

Markets reacted to the advance in payrolls, ...