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flag US labor market remains tight as jobless claims decrease, despite slowing economy and weakened factory output.

flag US labor market remains tight despite slowing economy; jobless claims fell by 10,000 to 222,000 last week, reversing part of the jump at the start of the month. flag The Federal Reserve's interest rate hikes are expected to have a larger impact on the economy, with single-family homebuilding dropping again in April and factory output unexpectedly falling. flag April's economic data, including nonfarm payrolls and retail sales, have come in below expectations.

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