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

The unemployment rate dipped to 3.4%, the lowest level since 1969, AP reports.

And from December to January, wages rose 0.3%, below the 0.4% increase the previous month

Though good for workers, employers’ steady demand for labor has also helped accelerate wage growth and contributed to high inflation.

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. (LaPresse)

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