U.S. Adds Far More Jobs Than Expected in May

GLOBAL ECONOMY - NEW YORK. U.S. job growth accelerated far more than expected in May, keeping the Federal Reserve on track to hold off starting to cut interest rates until September at the earliest.

The Labor Department's closely watched employment report on Friday also showed the unemployment rate ticked up to 4.0% from 3.9% in April, breaking a symbolic threshold below which the jobless rate had previously held for 27 straight months.