The US job market is slowing down, but not crashing, due to high interest rates.
The US job market is slowing down, but not crashing, due to high interest rates.
The unemployment rate rose to 3.9%, the highest since January 2022, according to the Bureau of Labor Statistics.
The unemployment rate rose to 3.9%, the highest since January 2022, according to the Bureau of Labor Statistics.
U.S. employers added 275,000 jobs in February, up from revised 229,000 the previous month.
U.S. employers added 275,000 jobs in February, up from revised 229,000 the previous month.
Average hourly earnings grew 0.1%, the slowest wage growth since February 2022.• Downward revisions reduced job gains from the previous two months by 167,000.
Average hourly earnings grew 0.1%, the slowest wage growth since February 2022.• Downward revisions reduced job gains from the previous two months by 167,000.
The Federal Reserve's anti-inflation interest rate hikes have increased borrowing costs for loans, impacting the job market.
The Federal Reserve's anti-inflation interest rate hikes have increased borrowing costs for loans, impacting the job market.
The Fed is closely monitoring the jobs report for signs of sustained downward inflation and signs of economic cracks, such as a surge in layoffs.
The Fed is closely monitoring the jobs report for signs of sustained downward inflation and signs of economic cracks, such as a surge in layoffs.
The report suggests the economy is on the path to a "soft landing" rather than a crash, balancing the risks of inflation flaring up again versus causing a recession.
The report suggests the economy is on the path to a "soft landing" rather than a crash, balancing the risks of inflation flaring up again versus causing a recession.