US adds 339,000 jobs in May defying slowdown fears

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14 minutes ago

Job creation in the US remained robust last month, despite rising prices and a sharp spike in borrowing costs weighing on the economy.

Employers added 339,000 jobs, while the unemployment rate rose to 3.7%, as more people entered the labour force.

The job gains were far stronger than expected, continuing a streak of hiring that has surprised economists.

Analysts have expected hiring to slow as the US central bank raises interest rates to try to rein in rising prices.