Friday’s employment report is expected to reveal the labor market bounced back in May after job gains slowed in April — but that likely won’t be reflected in the headline number. The Verizon workers’ strike probably removed about 40,000 union workers from payrolls, says Lewis Alexander, chief U.S. economist of Nomura. As a result, economists expect the Labor Department to report 170,000 payroll gains in May, up from 160,000 the previous month but below the recent 200,000-plus average. Such a showing, along with a bump in wage growth, could give Fed policymakers ammunition for a June rate hike, though many economists believe the Fed will wait until July or September.
http://www.usatoday.com/story/money/2016/05/30/jobs-report-economy-fed-rate-hike/85036352/