The unemployment rate reached 3.7%, its highest level since February -- but it rose for a healthy reason. Find out more here.
The nation's job market last month delivered just what the Federal Reserve and nervous investors hoped for: A Goldilocks-style hiring report.
The American economy has been a puzzle this year. Economic growth fell the first half of 2022, which, by some informal definitions, signals a recession. Inflationary pressure may subside Unemployment Benefits FILE - Hiring sign is displayed at a restaurant in Highland Park, Ill., Thursday, July 14, 2022. Fewer Americans filed for unemployment benefi…
Fed Chair Jerome Powell has made it clear — notably at a hawkish speech last week in Jackson Hole, Wyoming — that the central bank expects to impose further large rate hikes to try to tame inflation. And he warned that the Fed's continued tightening of credit will cause pain for many households and businesses as it slows the economy and potentially lead to job losses.
To be counted as unemployed, people have to be actively seeking a job. So when they stay on the sidelines, as many have since COVID-19 struck, their absence from the labor force means they don't show up as unemployed. And the jobless rate can look artificially low. Leisure and hospitality hiring slowed sharply Last month's jobs gains were spread broadly across industries. Retailers added 44,000. Healthcare gained 48,000, including nearly 15,000 at hospitals.
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