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US economy adds more jobs than expected despite Fed rate hike

US economy adds more jobs than expected despite Federal Reserve rate hike. NBC reports that the US economy posted better-than-expected job growth in November. Aggressive rate hikes by the Federal Reserve were intended to slow the labor market and keep inflation down, but the numbers came in better than expected. Aggressive rate hikes by the Federal Reserve were intended to slow the labor market and keep inflation down, but the numbers came in better than expected. Nonfarm payrolls increased by 263,000, according to a Labor Department report released on December 2. Nonfarm payrolls increased by 263,000, according to a Labor Department report released on December 2. Economists surveyed by Dow Jones had predicted an increase of just 200,000. Last month, the monthly increase increased slightly, with the number of jobs revised to 284,000. Meanwhile, the unemployment rate was 3.7% for him, in line with economists’ forecasts. NBC reports that the numbers are unlikely to delay his Fed rate hike as the central bank continues to grapple with his highest level of inflation in 40 years. NBC reports that the numbers are unlikely to delay his Fed rate hike as the central bank continues to grapple with his highest level of inflation in 40 years. Average hourly wages rose 0.6% in November, defying the Federal Reserve’s anti-inflation policy. That’s twice his price quoted by Dow Jones for the month. Wages were reported to have risen by 5.1% compared to the same period last year. Economists had predicted an increase of just 4.6%.

US economy adds more jobs than expected despite Fed rate hike

Source link US economy adds more jobs than expected despite Fed rate hike

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