Kathy Bostjancic
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Strong US job growth beats expectations in May, firming recent gains
Strong US job growth beats expectations in May, firming recent gains WASHINGTON: US job growth surged past expectations in May with the unemployment rate remaining steady, as the labour market in the world's largest economy showed signs of firming after months of turbulence. Wall Street stocks traded lower on the news, with investors expecting a strong labour market means the Federal Reserve will switch its focus to combating inflation through rate hikes later this year.