The report extended a streak of job gains that has surprised economists, who have expected a jump in interest rates since 2022 to slow the economy.
Analysts said the job market strength made an early rate cut less likely.
Analysts said the job market strength made an early rate cut less likely.
“These numbers show the US economy to be strong and will sway anyone thinking a March rate cut was on the way to look further out. Any thoughts of recession are off the mark as well for now.”
The US central bank started raising rates two years ago, responding to price inflation that was rising at the fastest pace in decades.
Higher borrowing costs aimed to cool economic activity and ease pressures pushing up prices.
Price inflation has come down from the high rates seen in 2022, and stood at 3.4% in December.
But strong household spending, initially buoyed by pandemic-era savings, has kept businesses humming, generating a kind of virtuous cycle, as the healthy jobs market in turn sustains consumer spending.
Analysts said the job market strength made an early rate cut less likely.
The report extended a streak of job gains that has surprised economists, who have expected a jump in interest rates since 2022 to slow the economy.
“These numbers show the US economy to be strong and will sway anyone thinking a March rate cut was on the way to look further out. Any thoughts of recession are off the mark as well for now.”
Analysts said the job market strength made an early rate cut less likely.
Analysts said the job market strength made an early rate cut less likely.
“These numbers show the US economy to be strong and will sway anyone thinking a March rate cut was on the way to look further out. Any thoughts of recession are off the mark as well for now.”
The US central bank started raising rates two years ago, responding to price inflation that was rising at the fastest pace in decades.
Higher borrowing costs aimed to cool economic activity and ease pressures pushing up prices.
Price inflation has come down from the high rates seen in 2022, and stood at 3.4% in December.
But strong household spending, initially buoyed by pandemic-era savings, has kept businesses humming, generating a kind of virtuous cycle, as the healthy jobs market in turn sustains consumer spending.
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