Rural Radio Network on Nostr: Jobs report blows past expectations, displaying resilient strength of US economy ...
Jobs report blows past expectations, displaying resilient strength of US economy
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The U.S. economy displayed resilient strength as the jobs report for May exceeded expectations. The U.S. Bureau of Labor Statistics data showed that employers added 272,000 jobs, surpassing economist expectations of 190,000 jobs. The unemployment rate ticked up to 4%, reaching that level for the first time since January 2022. The hiring accelerated from the previous month, with 175,000 jobs added in April. The strong jobs report contradicts the nation's flagging economic growth and suggests that the prolonged policy of high interest rates had weighed on business investment and economic activity. Average hourly wages increased by 4.1% over the year ending in May, exceeding the pace of inflation. The major stock indexes fell slightly in pre-market trading in response to the jobs report.
#JobsReport #UsEconomy #Employment #InterestRates #Inflation
https://ruralradio.com/abc_news/jobs-report-blows-past-expectations-displaying-resilient-strength-of-us-economy-abcidbd95e3d3/
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The U.S. economy displayed resilient strength as the jobs report for May exceeded expectations. The U.S. Bureau of Labor Statistics data showed that employers added 272,000 jobs, surpassing economist expectations of 190,000 jobs. The unemployment rate ticked up to 4%, reaching that level for the first time since January 2022. The hiring accelerated from the previous month, with 175,000 jobs added in April. The strong jobs report contradicts the nation's flagging economic growth and suggests that the prolonged policy of high interest rates had weighed on business investment and economic activity. Average hourly wages increased by 4.1% over the year ending in May, exceeding the pace of inflation. The major stock indexes fell slightly in pre-market trading in response to the jobs report.
#JobsReport #UsEconomy #Employment #InterestRates #Inflation
https://ruralradio.com/abc_news/jobs-report-blows-past-expectations-displaying-resilient-strength-of-us-economy-abcidbd95e3d3/