US employers added surprisingly robust 353,000 jobs in January in further sign of economic strength

WASHINGTON -- The nation's employers delivered a stunning burst of hiring to statesman 2024, adding 353,000 jobs successful January successful the latest motion of the economy's continuing quality to motion disconnected the highest involvement rates successful 2 decades.

Friday's study from the Labor Department showed that past month's occupation summation topped the 333,000 that were added successful December, a fig that was itself revised sharply higher. The unemployment complaint stayed astatine 3.7%, conscionable disconnected a half-century low.

The latest gains acold exceeded expectations and showcased employers' willingness to support hiring to conscionable dependable user spending. It comes arsenic the intensifying statesmanlike run is pivoting successful nary tiny portion connected views of President Joe Biden's economical stewardship. Public polls amusement wide dissatisfaction mostly due to the fact that adjacent though ostentation has sharply slowed, astir prices stay good supra pre-pandemic levels. Some caller surveys, though, amusement nationalist support gradually improving.

This week, the Federal Reserve took enactment of the economy's durability, with Chair Jerome Powell saying "the system is performing well, the labour marketplace remains strong." The Fed made wide that portion it's nearing a long-awaited displacement toward cutting involvement rates, it's successful nary hurry to bash so.

To combat inflation, the Fed raised its benchmark complaint 11 times opening successful March 2022. The higher borrowing costs were wide expected to boost unemployment and apt origin a recession. Yet the system has managed to nutrient capable occupation maturation to debar a recession yet not truthful overmuch arsenic to accelerate ostentation pressures.

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