Employment in US Rises Faster Than Expected

Job growth in the United States was higher than economists had forecast in May. According to the US government, employment increased by 390,000.

 

On average, connoisseurs had expected an increase of 320,000 new jobs. It is an important indicator of the American economy.

The April figure was also revised upwards from 428,000 to 436,000 new jobs in the world’s largest economy. Unemployment remained very low at 3.6 percent. Millions of jobs were lost in the US as a result of the crisis, but many employers are now struggling with staff shortages.

The jobs report plays an important role in the interest rate policy of the US central bank umbrella, the Federal Reserve.

The Fed is raising interest rates due to high inflation in the US. Earlier this year, the central bank raised interest rates. A strong labour market gives the Fed extra room to raise interest rates even more quickly.

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