The US Employers Added Robust 353,000 Jobs to Strengthen economy. This was done in January as a further sign to economic strength. This was confirmed in todays earlier news.
WASHINGTON (AP) — The nation’s employers delivered a stunning burst of hiring to begin 2024, adding 353,000 jobs in January in the latest sign of the economy’s continuing ability to shrug off the highest interest rates in two decades.
Friday’s government report showed that last month’s job gain — far above what economists had predicted — topped the December gain of 333,000, a figure that was itself revised sharply higher. The unemployment rate stayed at 3.7%, just above a half-century low.
Wages rose unexpectedly fast in January, too. Average hourly pay climbed a sharp 0.6% from December, the fastest monthly gain in nearly two years, and 4.5% from January 2023. The strong hiring and wage growth could complicate or delay the Federal Reserve’s intention to start cutting interest rates later this year.
According to the news and reach out, the main reason was to increase and maintain the economic strength of the nation and most importantly, to keep it going and steady.
The nation’s employers delivered this as a stunning burst of hiring to begin this 2024, thereby increasing the jobs with an addition of about 353,000 jobs in January.
This has been considered as the latest sign of the economy’s continuing ability to shrug off the highest interest rates in two decades.
You may like: DOT Global Youth Leadership Advisory Board (GYLAB) Application
Far from what the economist has predicted, the last month Job gain has been confirmed to has topped the December gain of 333,000. This figure itself was revised sharply as higher and kept the unemployment rate at 3.7%, just above a half-century low.
The latest gains showcased employers’ willingness to keep hiring to meet steady consumer spending. It comes as the intensifying presidential campaign is pivoting in no small part on views of President Joe Biden’s economic stewardship.
Make sure to use our comment box and also subscribe to our mails for steady notifications. Use also the share button to make us go viral.
