Friday’s non-farm payrolls data showed the U.S. economy added 272,000 jobs in May, way more than the 185,000 estimated and well ahead of April’s downwardly revised 165,000. While the jobless rate ticked higher to 4%, average hourly earnings, the sticky inflation component, rose 0.4% month-on-month, above the expectation of a 0.3% rise.
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