Thursday, September 29

Tag: unemployment

US Added 428,000 Jobs in April Despite Surging Inflation | Political News
Politics

US Added 428,000 Jobs in April Despite Surging Inflation | Political News

By PAUL WISEMAN, AP Economics WriterWASHINGTON (AP) — America’s employers added 428,000 jobs in April, extending a streak of solid hiring that has defied punishing inflation, chronic supply shortages, the Russian war against Ukraine and much higher borrowing costs.Friday’s jobs report from the Labor Department showed that last month’s hiring kept the unemployment rate at 3.6%, just above the lowest level in a half-century.The economy’s hiring gains have been strikingly consistent in the face of the worst inflation in four decades. Employers have added at least 400,000 jobs for 12 straight months.At the same time, the April job growth, along with steady wage gains, will help fuel consumer spending and likely keep the Federal Reserve on track to raise borrowing rates sharply to fight inflati...