Jobs growth surges in US despite slowdown fears - BBC News

The jobless rate fell to its lowest in more than 50 years last month, as employers added 517,000 jobs.

26 minutes agoShareclose panelShare pageCopy linkAbout sharingImage source, Getty ImagesImage caption, The world is watching how hiring in the US holds upJobs growth surged in the US in January, defying fears that the economy is heading for a downturn.

Employers added 517,000 jobs last month, the Labor Department said.

That was far more than expected, pushing the unemployment rate down to 3.4% - the lowest rate since 1969.

Analysts are struggling to figure out what is happening in the world's largest economy, which is being buffeted by a mix of higher borrowing costs and rising prices.

Many forecasters have warned that the odds of a recession this year are unusually high, pointing to data which has indicated a recent pullback in consumer spending, declines in manufacturing and a sharp slowdown in home sales.

https://www.bbc.co.uk/news/business-64514466?at_medium=RSS&at_campaign=KARANGA


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