May 3 (Reuters) - Traders of short-term U.S. interest rate futures continue to expect the Federal Reserve to hold rates near zero for two more years, even after a U.S. government report that employers added more jobs than expected in April. Some fed funds futures contracts pared earlier gains and turned negative after the report, which also showed the unemployment rate fell to a four-year low of 7.5 percent. Still, the moves were slight, and futures prices after the report suggested traders continue to see about an even chance of the Fed first hiking rates in July 2015, based on contracts traded at CME Group Inc's Chicago Board of Trade. The U.S. central bank is buying $85 billion in Treasuries and mortgage-backed securities each month to help boost growth and spur hiring. On Wednesday the Fed also reiterated its plan to keep rates near zero until unemployment drops to at least 6.5 percent, as long as inflation stays under control. Rate futures contracts fall when traders see a smaller chance of a later Fed rate hike.

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