Hiring Accelerated as U.S. Economy Added 353,000 Jobs in January
Economy And Jobs,Jobs Report,Unemployment,Labor
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AllSides Media Bias Rating: Center
Hiring accelerated with 353,000 jobs added last month, the Labor Department said Friday. The unemployment rate was 3.7%.
The report offers fresh insight into the U.S. economy as Federal Reserve officials are considering when to start cutting interest rates, a new phase in their effort to control inflation while avoiding a long-feared recession.
Fed Chairman Jerome Powell signaled Wednesday that rate cuts are likely later this year, though probably not at the Fed’s next meeting in March. Strong economic growth and a still-tight labor market were welcome, Powell said, as long as inflation continues to decline.
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