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From Times Staff and Wire Reports
Unemployment Rate Falls to 9.8%: The figures for May, released last week, hit 9.8%, the lowest level since August, 1991. The April rate was 10.1%. Employment rose a hefty 30,500 jobs, contrasted with a 5,800 increase in April. Analysts welcomed the data but warned that the central bank will have to raise interest rates if inflation is driven up by such strong employment growth.
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