U.S. employers added 217,000 to payrolls in May
Employers have shrugged off the winter slowdown and have continued to hire. That should help the economy rebound because more jobs mean more paychecks to spend.
Most economists expect annualized growth to reach 3 percent to 3.5 percent in the current second quarter and to top 3 percent for the rest of the year.
Recent economic figures suggest that growth is accelerating.
Auto sales, for example, jumped 11 percent in May to a nine-year high. Some of that increase reflected a pent-up demand after heavy snow during the winter discouraged car buyers. But analysts predict that healthy sales will continue in coming months, bolstered by low auto-loan rates and the rollout of new car models.