The Fed on Wednesday kept its benchmark overnight interest rate unchanged and said it expected labour market conditions would "strengthen somewhat further." It raised rates by a quarter of a percentage point in March and has forecast two more increases this year. But there are signs wage growth is accelerating as labour market slack diminishes. "While there is still some labour market slack, it is diminishing rapidly. Construction payrolls rose by 5,000 last month and manufacturing payrolls increased by 6,000. Leisure and hospitality payrolls jumped by 55,000 in April.

Source: bd News24 May 05, 2017 23:48 UTC