Fed's Dudley concerned labor market may stall but still sees 2015 hike

Progress in the U.S. labor market may have stalled, with strong job gains masking weak productivity and still high levels of part-time work and long-term unemployment, New York Fed President William Dudley said on Friday. On a day when the United States reported the healthy addition of 280,000 jobs in May, Dudley said he was concerned the economy may not be growing fast enough to absorb the slack left among workers sidelined or underemployed by the 2007-2009 financial crisis and recession. Dudle