We all like to hear Good news instead of bad, and you have to look no further than our own U.S. Economy. The Associated Press published the story last week, and here it is for you (BTW, People on the opposite side of the political fence - Republicans- are crying about illegal immigration to ignore how well the U.S.A. is doing on its own. That's not to say immigration isn't an issue, but it's ALL parties' issue.). Meanwhile, I'll relish the good news!
The U.S. didn’t just avoid a recession — it’s adding hundreds of thousands of new jobs
WASHINGTON (AP) — The nation’s employers delivered a stunning burst of hiring to begin 2024, adding 353,000 jobs in January in the latest sign of the economy’s continuing ability to shrug off the highest interest rates in two decades.
Friday’s government report showed that last month’s job gain — roughly twice what economists had predicted — topped the December gain of 333,000, a figure that was itself revised sharply higher. The unemployment rate stayed at 3.7%, just above a half-century low.
Wages rose unexpectedly fast in January, too. Average hourly pay climbed a sharp 0.6% from December, the fastest monthly gain in nearly two years, and 4.5% from January 2023. The strong hiring and wage growth could complicate or delay the Federal Reserve’s intention to start cutting interest rates later this year.
The latest gains showcased employers’ willingness to keep hiring to meet steady consumer spending. It comes as the intensifying presidential campaign is pivoting in no small part on views of President Joe Biden’s economic stewardship. Public polls show widespread dissatisfaction largely because even though inflation has sharply slowed, most prices remain well above pre-pandemic levels. Some recent surveys, though, show public approval gradually improving.
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