finance
monthly
Personal Finance. Money. Investing.
Contribute
Newsletter
Corporate

US Jobs Growth Strong but Slowing amid Inflation Fears

The growth of jobs in the US is still solid, but at a slowing pace, despite high prices and increasing borrowing costs' weight on the economy. 

Posted: 7th November 2022 by
Katina Hristova
Share this article

The US Labor Department said that last month, employers added 261,000 jobs, while the unemployment rate increased slightly to 3.7%.

The news comes as the economy is still a main concern for voters ahead of the midterm elections. Rising costs also remain a huge aspect that hits public confidence.

Prices are on a rise not seen since the early 1980s, with inflation currently up at 8.2%.

The issue is having a tremendous impact on Democrats, who were already struggling to maintain hold of Congress.

Beth Ann Bovino, chief US economist at S&P Global Ratings said:

"People are depressed and often people vote with their pocketbooks. Inflation is almost everywhere. People are squeezed at the checkout stand, they're squeezed with their rental payments, when they try to buy a home."
"We're going to do what it takes to bring inflation down," said President Biden on Friday. "But as long as I'm president, I'm not going to accept an argument that the problem is that too many Americans are finding good jobs."

About Finance Monthly

Universal Media logo
Finance Monthly is a comprehensive website tailored for individuals seeking insights into the world of consumer finance and money management. It offers news, commentary, and in-depth analysis on topics crucial to personal financial management and decision-making. Whether you're interested in budgeting, investing, or understanding market trends, Finance Monthly provides valuable information to help you navigate the financial aspects of everyday life.
© 2024 Finance Monthly - All Rights Reserved.
News Illustration

Get our free monthly FM email

Subscribe to Finance Monthly and Get the Latest Finance News, Opinion and Insight Direct to you every month.
chevron-right-circle linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram