- Thursday, April 18, 2024
By: Pramod Thomas
THE US economy has added 225,000 Jobs in January, and the jobless rate was 3.6% during the period.
Wages increased 3.1% from a year earlier, compared to December’s annual rise of 3%.
Over the past three months, the US economy added an average 211,000 jobs. Job growth was revised higher in the last four months of 2019.
A strong labour market should help propel the broader economy, which was expanding at a moderate pace as 2019 came to a close, experts said.
US present tweeted about this development.
JOBS, JOBS, JOBS!#PromisesMadePromisesKept?? pic.twitter.com/yIOxpzCNb7
— Donald J. Trump (@realDonaldTrump) February 7, 2020
The Federal Reserve left its benchmark interest rate unchanged at its meeting last week, after cutting interest rates three times last year.
It is taking a wait-and-see approach on its next move with an eye on trade, business investment and global growth.
The Boeing Co. halted production of its troubled 737 MAX aircraft, an impediment to manufacturing output that is expected to reduce first-quarter U.S. growth.
The coronavirus outbreak that originated in China could hinder a rebound in global manufacturing activity.
In January, industries including construction, health care and transportation and warehousing added jobs at a strong pace. Though manufacturers cut jobs, a recent report said.
