U.S. adds 261,000 jobs in October
The latest jobs report is out today and the U.S. economy saw a rise in jobs last month.
COLUMBIA, S.C. (WOLO)— The latest jobs report is out today and the U.S. economy saw a rise in jobs last month.
According to the Bureau of Labor Statistics, 261,000 positions were added in October.
Today’s monthly report also showed the U.S. unemployment rate rose to 3.7%. The total job gains were higher than the projected forecast.
Despite the increase in jobs last month, some economists still fear a recession is looming.
Federal Reserve Chair Jerome Powell says the U.S. might need to lose jobs if inflation remains out of control.
As of now the Federal Reserve’s repeated interest rate hikes haven’t stopped employers from hiring workers.