"The May jobs report sent conflicting messages. Payrolls rose solidly, and wage growth picked up, signs the labor market is still running hot. On the other hand, the unemployment rate rose, recent job growth has been concentrated in part-time jobs, and temp jobs fell, signs the labor market is cooling."

Bill Adams, chief economist for Comerica Bank, commented on the Labor Department’s May report that showed employers added 272,000 jobs during the month, but unemployment rose to 4 percent, its highest level in more than two years. Read the Fox Business article, “U.S. Job Growth Jumps by 272K in May While Unemployment Unexpectedly Rises.”