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A slowdown in U.S. hiring coupled with a jump in wages last month dovetails with what the Federal Reserve expected as the economy approaches full employment and is not likely to alter its interest rate hike trajectory. The Labor Department reported on Friday that 160,000 jobs were added in April, short of the 215,000 expected by economists and below the recent monthly average of 200,000, tempering hopes of a strong economic rebound in the second quarter. Although not a few investors viewed the report as a red flag for the Fed, some analysts said the data, especially if the rise in wages triggered higher inflation, could push the U.S. central bank closer to hiking rates, perhaps as soon as June.
Britain's main opposition Labour party on Friday claimed victory for its candidate Sadiq Khan as mayor of London, making him the first Muslim leader of an EU capital. Can't wait to work with you to create a London that is fair for all!" Labour leader Jeremy Corbyn wrote on Twitter. The 45-year-old son of a London bus driver and a seamstress won out against Conservative rival Zac Goldsmith, 41, the son a wealthy tycoon.