Rural Radio Network on Nostr: Blockbuster jobs report flexes economic strength, defying Americans’ lukewarm ...
Blockbuster jobs report flexes economic strength, defying Americans’ lukewarm attitudes
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The U.S. Bureau of Labor Statistics reported that employers added 303,000 jobs last month, surpassing economist expectations of 214,000 jobs. The unemployment rate remained steady at 3.8%, near a 50-year low. Despite the strong job gains, consumer sentiment dipped slightly last month according to a University of Michigan survey. President Joe Biden's approval ratings on his handling of the economy are low, with only 37% of Americans approving. The economy continues to face higher-than-normal inflation, which has fallen from a peak of 9.1% but remains above the Fed's target rate of 2%. The gap between economic performance and consumer attitudes is attributed to frustration over high inflation and political bias. President Biden celebrated the jobs data, highlighting the creation of 15 million jobs since he took office. Economists differ on the implications of the jobs report for potential interest rate cuts by the Federal Reserve. Some suggest that the strong economic performance may delay rate cuts, while others believe a cooling-off of wage increases could prompt a rate cut. Overall, the jobs report indicates a healthy U.S. economy.
#JobsReport #EconomicStrength #UnemploymentRate #ConsumerSentiment #Inflation #PresidentJoeBiden #FederalReserve
https://ruralradio.com/abc_news/blockbuster-jobs-report-flexes-economic-strength-defying-americans-lukewarm-attitudes-abcidcf886685/
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The U.S. Bureau of Labor Statistics reported that employers added 303,000 jobs last month, surpassing economist expectations of 214,000 jobs. The unemployment rate remained steady at 3.8%, near a 50-year low. Despite the strong job gains, consumer sentiment dipped slightly last month according to a University of Michigan survey. President Joe Biden's approval ratings on his handling of the economy are low, with only 37% of Americans approving. The economy continues to face higher-than-normal inflation, which has fallen from a peak of 9.1% but remains above the Fed's target rate of 2%. The gap between economic performance and consumer attitudes is attributed to frustration over high inflation and political bias. President Biden celebrated the jobs data, highlighting the creation of 15 million jobs since he took office. Economists differ on the implications of the jobs report for potential interest rate cuts by the Federal Reserve. Some suggest that the strong economic performance may delay rate cuts, while others believe a cooling-off of wage increases could prompt a rate cut. Overall, the jobs report indicates a healthy U.S. economy.
#JobsReport #EconomicStrength #UnemploymentRate #ConsumerSentiment #Inflation #PresidentJoeBiden #FederalReserve
https://ruralradio.com/abc_news/blockbuster-jobs-report-flexes-economic-strength-defying-americans-lukewarm-attitudes-abcidcf886685/