Surprisingly strong job creation in the USA ahead of the interest rate turnaround

labor market in the United States

In the meantime, some positions cannot be filled again immediately.

(Photo: dpa)

Washington Before the foreseeable turnaround in interest rates, the US economy created far more jobs than expected. In February, 678,000 new jobs were created, as the government announced in Washington on Friday. Economists polled by Reuters had expected just 400,000 after a revised 481,000 in January.

The separate unemployment rate fell to 3.8 percent from 4.0 in January. Experts had expected a value of 3.9 percent.

In view of the job market running hot after the Corona crisis and the high inflation, US Federal Reserve Chairman Jerome Powell has signaled a turnaround in interest rates for the middle of the month and further increases in the current year. He described the situation on the labor market as tense.

Employers have trouble filling vacancies. At the same time, wages rose more than they had in years.

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More: USA: Service providers are growing more slowly – industrial orders are increasing strongly.

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