With Wall Street expecting a strong - not great - number, and a modest decline from April's 115K, instead the the BLS reported a shocker: in May the US added 172K jobs.

The US labor market appears to have found its footing: The economy added 172,000 jobs in May, shattering expectations, new data from the Bureau of Labor Statistics showed Friday.

The US labor market appears to have found its footing: The economy added 172,000 jobs in May, shattering expectations, new data from the Bureau of Labor Statistics showed Friday.

Traders bet the Fed will have to raise rates by December