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Avalon

The Bureau of Labor Statistics yesterday released another blockbuster jobs report. The country added 272,000 jobs in May, far higher than the 180,000 jobs economists predicted. A widespread range of sectors added new jobs, including health care, government, leisure and hospitality, and professional, scientific, and technical services. Wages are also up. Over the past year, average hourly earnings have grown 4.1%, higher than the rate of inflation, which was 3.4% over the same period.

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