The U.S. economy has faced conflicting signs for months. On one hand, inflation is rising and so are interest rates. On the other, job growth has remained steady.
WASHINGTON — America’s employers added a stunning 517,000 jobs in January, 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 unemployment rate dipped to 3.4%, the lowest level since 1969.
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
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