The US added 311,000 jobs last month. That’s more than economists had expected, according to Bloomberg News. In particular, catering companies, retailers and government and healthcare organizations took on more employees.
Economists polled by Bloomberg News expect an increase of 225,000 jobs in February. In January, the number of jobs in the U.S. increased by 504,000, according to a new U.S. government report on the labor market.
Ask more | How an employment report destroys investor confidence
Unemployment rose to 3.6 percent. A month ago, 3.4 percent of the U.S. labor force was still out of paid work. Economists had expected the percentage to remain the same.
If more people are employed, the working population will increase. As a result, unemployment may increase, while the number of jobs will also increase.
Foreshadow Fed interest rate policy
The US Bureau of Labor Statistics jobs report always gets a lot of attention in financial markets because it can tell us something about the interest rate policy pursued by the Federal Reserve. In the latest report, investors mainly see signs that the central bank will raise interest rates more sharply than previously feared.
Also Read | ‘The pressure on the US labor market is incredible’
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