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The economy added just 75,000 jobs in May, amid ongoing trade tensions with China and Mexico and a global economic slowdown.

The unemployment rate stayed steady at 3.6 percent, the lowest level in almost 50 years. Annual wage growth ticked up by 3.1 percent, according to data released Friday by the Bureau of Labor Statistics. April’s job number was revised down from 263,000 to 224,000 positions added.

The government’s monthly employment snapshot was hotly anticipated after a private payroll report released on Wednesday also took Wall Street by surprise. ADP’s monthly report revealed that just 27,000 jobs were added to the private sector in May — the lowest since 2010.

Wall Street ticked slightly downward, then upward, in premarket trading after the disappointing Labor Department figures were released. Financial markets have been nervous lately over escalating trade tensions with China and Mexico.

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“Fears were realized with the release of the government’s May jobs report,” said Mark Hamrick, senior economic analyst for Bankrate. “Hiring was lackluster last month, while the jobs numbers for March and April were weaker than initially estimated.”

“This was just enough hiring to maintain stability for the job market,” he said.

Friday’s labor report is likely to cement market expectations that the Fed is preparing to cut interest rates — with some predicting that may happen as soon as June 18 when the Federal Open Market Committee next meets to discuss monetary policymaking.

President Donald Trump said Thursday “the stock market would be 10,000 points higher” if the Fed had not raised rates four times last year.

Federal Reserve Chairman Jerome Powell said Monday that the central bank is watching current economic developments and would take the necessary steps to continue the country’s near-record economic expansion.

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Boris Johnson 'to get Brexit done' as he's made PM – Goldman Sachs raises No Deal to 20%

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BORIS JOHNSON triumphed in the Tory leadership contest and was crowned next Conservative leader by an overwhelming majority of party members.

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Nadler says Mueller should ignore DOJ ‘cover-up’ efforts on testimony

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House Judiciary Committee chairman Jerrold Nadler, D-N.Y., said on Tuesday that former special counsel Robert Mueller should ignore Justice Department attempts to stifle his highly anticipated congressional testimony, referring to their efforts as “part of a cover-up.”

On Monday, Associate Deputy Attorney General Bradley Weinscheimer wrote a letter instructing Mueller not to provide any testimony regarding the redacted portions of his report. Mueller had already said he would not go beyond the content contained within his more than 440-page report during his public testimony.

The letter also stated that “any testimony must remain within the boundaries of your public report because matters within the scope of your investigation were covered by executive privilege.”

Nadler told CNN Tuesday that he didn’t believe that letter was an impediment to Mueller’s testimony, adding that the instruction to do so is “a part of the cover-up of the administration to keep information away from the American people.”

“But I think it’s not going to have a real impact,” he said.

Asked if Mueller must comply with the letter, Nadler said the former special counsel does not.

“He doesn’t work for them,” Nadler said. “And that letter asks things that are beyond the power of the agency to ask even if he still worked there.”

Mueller will testify Wednesday in separate sessions before the House Judiciary and Intelligence Committees. In May, Mueller said if he were to testify before Congress that “testimony from this office would not go beyond our report.”

“We chose those words carefully, and the work speaks for itself,” he added. “The report is my testimony. I would not provide information beyond that which is already public in any appearance before Congress.”

A spokesman for Mueller, Jim Popkin, told NBC News on Monday that the former special counsel will give a brief opening statement before offering the entire report as his full statement for the record.

A Democratic House Intelligence Committee aide told NBC News last week that Chairman Adam Schiff, D-Calif., does not “subscribe” to the belief that Mueller is required to “stay within the four corners” of the report.

But a Democratic House Judiciary aide also told NBC News last week that even if Mueller doesn’t go beyond the report, “we think that limitation … can be worked through because there really is such strong language throughout the report even if they didn’t bring it all together in a way that connects it all, to the to the ultimate conclusion.”



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Jeremy Corbyn says Boris Johnson ‘hasn’t won support of our country’ and demands election

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LABOUR leader Jeremy Corbyn has demanded a general election after saying new Prime Minister Boris Johnson had not won the support of the country.

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