BREAKING: U.S. employers added 678,000 jobs in February, another solid gain that underscored the economy’s health as the omicron wave fades. The unemployment rate dropped from 4% to 3.8%, the Labor Department reported.
Chair Jerome Powell said this week that he plans to propose that the Fed raise its benchmark short-term rate by a quarter-point when it meets in about two weeks. Powell has acknowledged that high inflation has proved more persistent and has spread more broadly than he and many economists had expected.
Powell also warned that Russia’s invasion of Ukraine will lead to higher prices for gas as well as for such other commodities as aluminum, wheat and corn, thereby keeping inflation higher than it would otherwise have been. Oil prices, which have been soaring since war began more than a week ago, are critically important to the global economy.
During the omicron wave, businesses barely wavered in their demand for workers. Job openings at the end of December reached near-record levels, with an average of 1.7 available positions for every unemployed person. Historically, there are usually more people out of work than there are jobs.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Long Beach temporarily closes swimming areas after 30-40,000 gallons of sewage spills into LA RiverLong Beach was forced to close all of its beach swimming areas Wednesday out of an abundance of caution following a large sewage spill.
Weiterlesen »
America added 678,000 jobs in February, smashing forecastsAmerica added 678,000 jobs in February, exceeding economist expectations. Unemployment fell to 3.8%, a new pandemic-era low.
Weiterlesen »
Businesses created 475,000 new U.S. jobs in February, ADP saysPrivately run U.S. businesses added 475,000 new jobs in February, payroll processor ADP said, after omicron faded, governments eased pandemic restrictions...
Weiterlesen »
Key jobs measure says America added 475,000 positions in February, beating expectationsAmerica's companies added 475,000 jobs last month, the ADP employment report said on Wednesday.
Weiterlesen »
Economy likely added 440,000 jobs in February - but labor shortage persistsThe deep drop in omicron cases in February gave businesses the green light to hire and more people who got sick returned to work. So Wall Street is expecting...
Weiterlesen »
February Jobs Report Expected to Show Strong Labor Market Continuing With Solid Wage GainsThe economy was likely to have added jobs at a healthy pace in February and wages gains were strong.
Weiterlesen »