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US job creation robust despite banking crisis

US job creation remained resilient last month, despite the turmoil in the banking sector and the impact of higher borrowing costs.

Employers created 253,000 jobs while the unemployment rate fell to 3.4%.

The stronger than expected gains were a reminder of the resilience of the US jobs market, which has held up better than expected as the Federal Reserve takes action to cool the economy.

The Federal Reserve has raised interest rates sharply to curb the rise in prices.

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