FINANCIAL TIMES: The chances of the Federal Reserve slowing its asset purchases from $85bn a month by September were raised on Friday after the US reported stronger-than-expected jobs growth of 175,000 in May.
Following a flow of poor data during the week, the jobs figures are a reassuring sign that the US economic recovery is still on track, despite tax rises and across-the-board cuts to public spending…
The unemployment rate rose from 7.5 per cent to 7.6 per cent, despite the solid growth in jobs, but that reflected people returning to the jobs market and was more a sign of strength than weakness… (more)
