Friday, March 31, 2023

US hiring slowed in February as unemployment rose – Usky News

washingtonUS job gains were smaller than expected in February, while the unemployment rate and income rose, according to government data released Friday.
The numbers bring some respite after a surprise hiring surge in January, but suggest the world’s largest economy is not cooling as quickly as policymakers expected.
The Labor Department said the US economy added 311,000 jobs last month, down from a revised figure of 504,000 in January.
The unemployment rate rose slightly to 3.6 percent from the low level seen in the late 1960s.
Average hourly earnings rose 0.2 percent to $33.09 in February.
Numbers come after many days Federal Reserve Chair Jerome Powell warned that the US central bank is prepared to accelerate the pace of its interest rate hikes and may raise rates more than previously estimated if needed to rein in inflation.
irrigated The job market has been closely monitored, with demand for labor exceeding the supply of available workers and employers keen to retain staff they may have struggled to find during the pandemic.


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