US job creation smashes forecasts in May, fuelling rate hike bets; ‘no jet fuel shortage in Europe’ – as it happened | Business
• The US economy added 172,000 nonfarm payroll jobs in May, significantly exceeding previous forecasts according to the US Bureau of Labor Statistics. • Employment growth was primarily driven by gains in health care, local government, and the leisure and hospitality sectors, while financial activities saw a decline. • This stronger-than-expected job growth is fueling market bets that the Federal Reserve may implement further interest rate hikes to combat inflation.
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