Washington — Despite the high inflation rate and slow economic growth, U.S. employers maintained strong recruitment momentum in November — a sign of a rebound in the face of the Fed’s aggressive rate hike.
The U.S. Department of Labor said last Friday: Although jobs increased by 263,000, the unemployment rate remained at 3.7%, still close to a 53-year low. But employment growth in November was only slightly lower than the 284,000 in October.
Over the past year, as inflation soared, the Federal Reserve raised the lending rate interest rate, and the U.S. labor market has withstood the voice of doubt and added hundreds of thousands of jobs month by month.
As employers continue to recruit, wages also increase. In November, average hourly wages rose 5.1% from a year ago, a strong increase that could complicate the Fed's efforts to curb inflation. This week, Fed Chairman Jerome Powell stressed in a speech that jobs and wages are growing too fast and the Fed cannot quickly slow inflation. The Fed has raised the benchmark rate to nearly 4% from near zero in March, trying to pull inflation back to its 2% annualized target.
Meanwhile, stable employment and rising wages have helped American families drive the economy. In October, consumer spending grew at a healthy rate even after being adjusted for inflation. Americans are increasing their consumption of cars, catering and other services.
Despite this, many netizens said, are you unemployed this year? If it weren't for the epidemic, responding to national policies, I believe China's flexible employment rate is not that high. However, some netizens said that the impact of the epidemic has had a huge impact on many people, including all aspects of their lives!
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