Job growth in the United States in May was higher than economists had predicted. According to the US government, employment has increased by 390,000. On average, intellectuals expect an increase of 320,000 new jobs. This is an important indicator of the US economy.
The April numbers also revised from 428,000 to 436,000 new jobs in the world’s largest economy. Unemployment was as low as 3.6 percent. Millions of jobs were lost in the United States as a result of the crisis, but many employers are now struggling with staff shortages.
The jobs report plays an important role in the US Federal Reserve’s umbrella Federal Reserve interest rate policy. The central bank is raising interest rates due to high inflation in the United States. Earlier this year, the central bank raised interest rates. A strong labor market gives the central bank more space to raise interest rates even faster.
“Passionate analyst. Thinker. Devoted twitter evangelist. Wannabe music specialist.”