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The White House was celebrating a surprise boost to the US economy on Friday morning following the latest jobs report from the Bureau of Labor Statistics.
The economy added 139,000 jobs in May, which sent the stock market soaring as it was a stronger result than expected.
Analysts said the optimistic financial outlook will allow the Fed more time to hold interest rates steady.
'Today’s jobs report should bring relief to investors who are worried about a breakdown in the labor market,' eToro US Investment Analyst Bret Kenwell said.
'Given how important consumer spending is to the overall economy, the state of the jobs market is a critical component for the US,' he explained.
'While it may not be firing on all cylinders, it’s far from showing signs of a major breakdown.'
It comes as Trump took to his Truth Social platform to laud his accomplishments since retaking the White House - but did not mention his ongoing feud with Elon Musk.
The economy added 139,000 jobs in May, which sent the stock market soaring as it was a stronger result than expected.
Analysts said the optimistic financial outlook will allow the Fed more time to hold interest rates steady.
'Today’s jobs report should bring relief to investors who are worried about a breakdown in the labor market,' eToro US Investment Analyst Bret Kenwell said.
'Given how important consumer spending is to the overall economy, the state of the jobs market is a critical component for the US,' he explained.
'While it may not be firing on all cylinders, it’s far from showing signs of a major breakdown.'
It comes as Trump took to his Truth Social platform to laud his accomplishments since retaking the White House - but did not mention his ongoing feud with Elon Musk.