Sunday, September 4, 2022
US added 315,000 jobs in August as strong market defies signs of worsening economy
The remarkable strength of the jobs market has the Federal Reserve worried that as employers compete for workers, wage inflation will keep driving prices higher. Average hourly earnings have increased by 5.2% in the last 12 months – faster than the 3% annual growth pre-pandemic but less than the 8.5% annual rate of inflation recorded in July...
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