Overheating: U.S. Economy Added 272,000 Jobs In May,

Employers in the United States added 272,000 workers to their payrolls in May, the Department of Labor said Friday.

Economists had forecast payrolls would grow by 182,000 and the unemployment rate would hold steady at the prior month’s 3.9 percent.

Prior to the most recent report, the economy has been adding an average of 242,000 jobs per month. The private sector has averaged 197,000.

The hotter-than-expected jobs number is likely to push off hopes for rate cuts until the end of this year or into next year.