Hiring spree nets better than expected new jobs in May

Washington

US companies continued their hiring spree during May, with a higher than expected 223,000 job gains in the Labor Department's monthly jobs report Friday. The unemployment rate fell to 3.8 per cent.

In a highly unusual move, President Donald Trump tweeted Friday morning that he is "looking forward to seeing the employment numbers". Mr Trump's tweet made many on Wall Street wonder if the number would be far higher than predicted.

The US unemployment rate has not been this low since 2000. Many economists predict it will fall even further this year, potentially dropping to 3.5 per cent, which would be the lowest rate since 1969. Wage g…