A help wanted sign is posted at a taco stand in Solana Beach, California.
Mike Blake | Reuters
Hiring improved in May, but 559,000 new jobs aren’t enough to spur the Federal Reserve to begin to talk about tapering back its bond purchases.
Friday’s Labor Department report on new payrolls was below the 671,000 expected but also was not weak enough to cast serious doubts on the economic recovery though it does reveal the underlying issues of a worker shortage and jobs mismatch.
The moderately strong data helped push stocks slightly higher, and Treasury yields flip flopped before edging lower. The benchmark 10-year yield fell to 1.58%. Yields moves opposite price.
John Briggs, NatWest Markets’…