Economic Watch: U.S. jobs report strong, but spells bad news for inflation, interest rates

by Matthew Rusling

WASHINGTON, June 8 (Xinhua) -- Newly released U.S. jobs report was strong but spelled bad news for record-high inflation and interest rates.

The U.S. economy added 272,000 nonfarm payroll jobs in May, soundly beating analysts' expectations of 180,000, according to data released Friday from the Bureau of Labor Statistics.

"It was another very strong report ... Wages grew at a 4.1