America's economy receives a surprise boost

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America's economy receives a surprise boost

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Employers added 272,000 jobs in May, according to the latest jobs report released Friday. This was higher than the 190,000 forecast by economists. The unemployment rate, however, edged up slightly to 4 percent - the first time it has breached that threshold since January 2022. Stock futures initally plummeted following the report - because Wall Street worried a hot jobs report would deter the Fed from cutting interest rates. Higher rates are bad news for business - the cut consumer spending.
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