US job growth accelerated sharply in May, as sign of economic momentum that could put a September interest rate hike back on the table.<br /><br /> Non-farm payrolls increased by 280,000 in May, the Labor Department said. That is the largest gain since December.<br /><br /> The upturn is welcome news for the US economy whose sluggishness this year has been causing concern – particularly when GDP contracted during the first quarter.<br /><br /> Financial markets had therefore been doubting whether the Federal Reserve would be able to finally raise rates this year.<br /><br /> The Fed has kept overnight rates close to zero since December 2008.
