US economy adds 175,000 jobs in May

US employment rose by slightly more than economists had predicted during May.

The latest US non-farm payrolls show that 175,000 jobs were created last month. But the unemployment rate increased slightly to 7.6%.

Shares had mostly fallen in the run up to the figures, as investors worried that a strong report could lead the Fed to slow its bond-buying programme.

That programme has fired up a rally in the US equities market this year.

In early afternoon trade on Wall Street on Friday, the Dow Jones, S&P 500, and Nasdaq were all ahead by about 1%.