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US hiring surges past expectations as job market still strong

By The Straits Times

7 Jun 2024

WASHINGTON - US job growth blew past estimates in May even as unemployment edged up, data showed on June 7, underscoring the labour market’s resilience as policymakers seek to cool the economy gradually.

But the hotter-than-expected figures could complicate the Federal Reserve’s calculus as it weighs the right time to lower interest rates.

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