US STOCKS-Wall St set to open lower after strong jobs report
* May payrolls increase by 280,000 vs est 225,000
* Average hourly earnings increase
* Futures down: Dow 47 pts, S&P 6 pts, Nasdaq 14 pts (Adds details, comment and updates prices)
By Tanya Agrawal
June 5 (Reuters) - Wall Street was poised to open lower on Friday after data showed that U.S. job growth accelerated sharply in May and wages picked up, signs of momentum in the economy that could revive expectations of an interest rate hike in September.
Nonfarm payrolls increased 280,000 last month, the largest gain since December, and above the 225,000 that economists polled by Reuters had expected. Average hourly earnings grew by eight cents.
The Fed has kept overnight rates near zero since December 2008. The economy's sluggishness had left markets doubting whether the Fed would be able to raise rates this year.
The number of Americans filing new claims for unemployment benefits fell last week and was the 13th straight week that claims held below the 300,000 threshold, which is usually associated with a strengthening labor market.
"I think the report is a nice confirmation that the U.S. economy is still a winner coming out of a weak winter based on other factors," said Luke Tilley, chief economist at Wilmington Trust. Continuación...