MARKET OPEN: Surprise US jobs report may boost local market

Mon, 08 Jun 2020

The local stock market may follow the global rally after the US economy unexpectedly added jobs in May, lifting expectations the recovery may be faster than expected. Total nonfarm payroll employment rose by 2.5 million in May while the unemployment rate declined to 13.3 percent, data from the US Bureau of Labor Statistics showed. The US labour market shed 20.7 million jobs in April “These improvements in the labour market reflected a limited resumption of economic activity that had been curtailed in March and April due to the coronavirus...

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