Positive jobs news for US economy

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Janet Yellen

US employers added a better-than-expected 280,000 jobs in May, showing that the economy has regained momentum after starting the year in a deep slump.

Last month’s strong jobs growth suggests that employers remained confident enough to keep hiring even after the economy shrank during the first three months of the year.

US Federal Reserve chairwoman Janet Yellen has said she expects the Fed to raise rates this year if the economy continues to improve, thereby ending nearly seven years of record-low rates.

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