With inflation at a four-decade high, a growing number of forecasters worry the U.S. economy may be headed to a recession as the Fed gears up to raise interest rates aggressively.
U.S. employers added 431,000 jobs in March, as the unemployment rate fell to 3.6% from 3.8% in February. The tight job market is putting upward pressure on both wages and prices.
The country is in the midst of a job crisis. The rate of unemployment is about 13% among educated youth. Those who work in the informal sector vie for jobs with no security. Why are things so bad?
U.S. employers added 678,000 jobs in February as the unemployment rate fell to 3.8%, from 4% in January. The Federal Reserve hopes to curb inflation without stalling job growth.
The Federal Reserve is preparing to raise interest rates sooner and — perhaps — more aggressively after inflation reached the highest in nearly 40 years.
Other states have reported similar losses. Ohio reported it paid out more than $3.8 billion in fraudulent jobless aid. California has paid out at least $20 billion.
Hiring slowed sharply last month, even as the unemployment rate fell to 4.2%. Data from the Labor Department suggest the economy was losing steam even before the appearance of a new COVID-19 variant.
U.S. employers added 531,000 new jobs as the unemployment rate fell to 4.6%. Millions of would-be workers are still on the sidelines, though, leaving the pace of the recovery in doubt.
The Labor Department says the U.S. added just 194,000 jobs last month, even lower than the lackluster showing in August. The unemployment rate fell to 4.8%.
Hiring slowed in August as a surge in new coronavirus infections weighed on the economic recovery. Employers added just 235,000 jobs last month, a sharp drop from June and July.
