Salem Radio Network News Saturday, April 1, 2023


US adds a surprisingly strong 517,000 jobs despite Fed hikes


( ) -q-23- UNDATED (Correspondent Jeremy House) “the months ahead.”

America’s employers added a robust 517,000 jobs in January.

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TAG: Correspondent Jeremy House reporting. Friday’s government report added to the picture of a resilient labor market, with low unemployment, relatively few layoffs and many job openings even as most economists foresee a recession nearing. Though good for workers, employers’ steady demand for labor has also helped accelerate wage growth and contributed to high inflation.

VERBATIM: It’s a surprisingly strong gain in the face of the Federal Reserve’s aggressive drive to slow growth and tame inflation with higher interest rates. The Labor Department reports the January unemployment rate dipped to 3.4%. January’s job growth, which topped December’s 269,000 gain, could raise doubts about whether inflation pressures will ease further in the months ahead.

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