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The United States jobs market continues to power ahead, slowing less than expected last month, and signalling that US consumers will continue to spend, spend, spend while growing the economy.

The US Department of Labor reported on Friday that the economy added 128,000 jobs in October – more than sufficient to absorb the estimated 100,000 new entrants into the labour force.

The headline was even more impressive given the drag from a 40-day labour strike at General Motors Co’s US factories, which ended last Friday. The strike was reflected in auto manufacturing, which shed 42,000 jobs in October. But strip