This is a rip-roaring labor market, in stark defiance of months of recession chatter — and the Federal Reserve's efforts to slow things down.American workers — outside of a handful of sectors — are experiencing some of the most plentiful opportunities in generations — even as inflation has been coming down.of the early 2000s now look like ancient history.Economists expected jobs growth to decelerate, but instead it surged ahead, with an addition of more than half a million jobs in January.
The hiring slowdown that was supposed to come alongside the Fed's aggressive tightening has not materialized. It sets up something of a conundrum for officials. Average hourly earnings rose 0.3% in January, slowing slightly from December's upwardly revised 0.4% pace. Over the year through January, hourly earnings are up 4.4%.
Calm before the storm.
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Stock market news today: Blockbuster jobs report suggests hawkish FedUS stocks fall after blockbuster January jobs report suggests more hawkish Fed moves ahead This mfer said “fall” 🤡
Source: BusinessInsider - 🏆 729. / 51 Read more »