The U.S. job market showed strong growth in May, with nonfarm payrolls increasing by 272,000 jobs, surpassing economists' expectations. The unemployment rate rose slightly to 4.0%, ending a 27-month streak below 4%. Despite recent softening, the labor market's resilience has kept the Federal Reserve cautious about cutting interest rates, likely delaying any rate cuts until at least September. However, other indicators suggest the job market may be loosening, prompting the Fed to closely monitor economic conditions to avoid overcooling the economy.
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