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U.S. Jobs Up, Unemployment Down
The jobless rate in the U.S. fell to a six-year low of 5.5% in February, according to the Dept. of Labor.
#economics #labor #workforcedevelopment
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The jobless rate in the U.S. fell to a six-year low of 5.5% in February, according to the Dept. of Labor. The department's Bureau of Labor Statistics also says 295,000 new jobs were created in the country last month.
Analysts note the 5.5% rate is within the range considered normal by the Federal Reserve. Many say the improvement makes it more likely the central bank will begin to normalize interest rates as early as June.
The deciding factor now is shifting from unemployment to inflation. Economists say the Labor Dept.'s data also show that average hourly earning grew only 3% last month.
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