America’s employers added 272,000 jobs in May, accelerating from April - despite persistently high interest rates. 

Devon Funds Management Head of Retail, Greg Smith, told Mike Hosking “Despite all this, the unemployment rate has ticked up to 4 percent.” 

Smith said “We’re seeing plenty of new jobs, but some of the old ones are going – I suppose some industries are cutting back as the economy softens.” 

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