Will big U.S. job gains raise inflation risks?

The latest data showing strong job growth are good news for anyone looking for a job or angling for a raise. But with the Federal Reserve still keeping an eagle eye on inflation, the news makes it unlikely the rate-setters will lower their guard — or interest rates — anytime soon.
The latest official jobs data from the government confirmed that, after barely breaking even in the first quarter, the U.S. economy is rebounding convincingly; some 132,000 new jobs were added in June, according to the Labor Department. That kept the unemployment rate at a historically low 4.5 percent. Workers also posted gains in their paychecks last month.
Friday’s report also showed that that the economy added more jobs in April and May than the government previously thought. Revised figures Friday showed that payrolls grew by a strong 190,000 in May, up from the 157,000 reported last month. And in April the total job pool expanded by 122,000, better than the 80,000 previously reported.