US added 678,000 jobs in February in sign of economic health KPRC2
For sale and hiring signs are displayed at an Armani Exchange store, Friday, Jan. 21, 2022, in Miami Beach, Fla. – U.S. employers added a robust 678,000 jobs in February, another gain that underscored the economy’s solid health as the omicron wave fades and more Americans venture out to spend at restaurants, shops and hotels despite surging inflation.also showed that the unemployment rate dropped from 4% to a low 3.
The report showed that average hourly pay in the United States barely rose last month but has increased 5.1% in the past year, a sign that companies feel compelled to raise wages to attract and keep workers. Many employers, in turn, have been raising prices to offset their higher labor costs, a process that has fueled inflation.
Chair Jerome Powell said this week that he plans to propose that the Fed raise its benchmark short-term rate by a quarter-point when it meets in about two weeks. Powell has acknowledged that high inflation has proved more persistent and has spread more broadly than he and many economists had expected.
Data from the restaurant reservation software provider OpenTable showed that seated diners surpassed pre-pandemic levels late last month. And figures from the Transportation Security Administration reflected a sharp increase in the number of people willing to take airplane flights.During the omicron wave, businesses barely wavered in their demand for workers. Job openings at the end of December reached near-record levels, with an average of 1.7 available positions for every unemployed person.
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US added 678,000 jobs in February in sign of economic healthU.S. employers added a robust 678,000 jobs in February, another gain that underscored the economy’s solid health as the omicron wave fades and more Americans venture out to spend at restauran…
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US added a strong 678,000 jobs in February in sign of economic healthU.S. employers added 678,000 jobs in February, another solid gain that underscored the economy's robust health as the omicron wave fades and more Americans venture out to spend at restaurants, shops and hotels despite surging inflation.
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US added 678,000 jobs in February in sign of economic healthWASHINGTON (AP) — U.S. employers added a robust 678,000 jobs in February, another gain that underscored the economy’s solid health as the omicron wave fades and more Americans venture out to spend at restaurants, shops and hotels despite surging inflation.
Read more »