ADD ANI AS A TRUSTED SOURCE
googleads
ANI Logo
Menu
US

US adds 187,000 jobs, lowest since 2020

The United States listed over 185,000 jobs in July as the hiring cooled down to its lowest level but the unemployment rate dipped.

ANI Aug 04, 2023 23:30 IST googleads

Representative Image (Source: pexels.com)

Washington DC [US], August 4 (ANI): The United States listed over 185,000 jobs in July as the hiring cooled down to its lowest level but the unemployment rate dipped, New York Post reported. 
Last month, US employers added 187,000 jobs after the hiring cooled down to its lowest in nearly three years. 
Notably, the job list is the lowest number since COVID peaked in 2020, the Labor Department said Friday.
The unemployment rate dipped to 3.5 per cent in a sign that the job market remains resilient.
It seems that July was not the right month for job seekers as it also witnessed a slight decrease from the 209,000 jobs added to the US economy in June and a sharper drop from the robust 339,000 jobs that were gained in May, according to New York Post. 
The figures mark the slowest increase since December 2020, though the US is currently enjoying a 30-month streak of monthly job gains.
The cooling job report came after the United States Federal Reserve raised its benchmark interest rate by 25 basis points, the highest in the past 22 years. 
The benchmark federal funds rate now lies at a range of 5.25 per cent to 5.5 per cent, the highest since 2001, further restricting economic activity as the borrowing costs for homes, cars and other items march higher.
It also came after nearly 18 months of interest rate hikes — part of the Federal Reserve’s aggressive tightening cycle to bring inflation back down to its pre-pandemic level of 2 per cent, as per the New York Post.
Employment in healthcare added 63,000 jobs last month, increasing the most.
Jobs in construction, financial activities and wholesale trade also trended positively, the report showed.
Fed officials have warned that strong hiring can often fuel inflation if companies feel compelled to raise pay to attract and keep workers.
Thus, a slowdown in job growth and pay raises could help the Fed reach its 2 per cent inflation target, New York Post reported. (ANI)

Get the App

What to Read Next

US

Trump describes Michigan synagogue attack as "terrible"

Trump describes Michigan synagogue attack as

Speaking at a Women's History Month event at the White House, the US president said he had been fully briefed on the situation and described the incident as "terrible."

Read More
Asia

India consistently supported Maldives in crisis: Mohamed Nasheed

India consistently supported Maldives in crisis: Mohamed Nasheed

He highlighted India's role as a "first responder" for the Maldives, emphasising that India's support during critical periods has been fundamental to the stability and security of the island nation.

Read More
US

Ending Iran's nuclear ambitions over oil profits: Trump clarifies

Ending Iran's nuclear ambitions over oil profits: Trump clarifies

In a post by the White House, President Trump, while acknowledging that the United States is currently the world's leading oil producer and stands to benefit financially from higher crude prices, emphasised that his administration's overriding mission remains the permanent dismantling of Iran's nuclear program.

Read More
Middle East

"Blocking Strait of Hormuz must continue," says Ayatollah Mojtaba

In his first address to the Iranian people. Ayatollah Mojtaba Khamenei called for the continued blockade of the Strait of Hormuz, a move that will raise tensions.

Read More
Middle East

Mojtaba Khamenei calls on Muslim neighbours to clarify stance

Mojtaba Khamenei calls on Muslim neighbours to clarify stance

"The countries of the region must clarify their stance regarding the aggressors against our dear homeland and the killers of our people. I recommend that they shut down those bases as soon as possible; for they must surely have realized by now that America's claim of establishing security and peace has been nothing but a lie," he said.

Read More
Middle East

'Will not forgo vengeance', vows Mojtaba Khamenei

'Will not forgo vengeance', vows Mojtaba Khamenei

Mojtaba further said that they must resist their enemies- the US and Israel.

Read More
Asia

3 Indian seafarers dead in Gulf maritime incidents: Rajesh Sinha

3 Indian seafarers dead in Gulf maritime incidents: Rajesh Sinha

"There have been maritime incidents involving Indian crew on foreign-flagged vessels. Of these vessels, there were 78 Indian seafarers. Of these, 70 are unhurt and escaped. Four sustained injuries over the last few days, but are stable. Unfortunately, there have been three casualties, and one seafarer is missing," he said.

Read More
Asia

"US will never risk sending its navy to open up Strait of Hormuz”

Sibal argued that the US is unlikely to risk a naval operation to forcibly "reopen" the Strait of Hormuz as the deep-water channel necessary for large vessels lies within Iranian territorial waters. Iran does not need sophisticated long-range missiles to defend this corridor; short-range missiles, torpedoes, and mines can easily sink high-value naval assets.

Read More
Asia

Jaishankar, Indonesia’s FM exchange perspective on W Asia crisis

Jaishankar, Indonesia’s FM exchange perspective on W Asia crisis

In a post on X, Jaishankar wrote, "Pleased to talk to FM Sugiono of Indonesia. Exchanged perspectives on the West Asia conflict. Discussed bilateral ties and agreed to hold the Joint Commission meeting at an early date."

Read More
US

"Unjust and unlawful": Iran rejects UNSC resolution

Iran's UN envoy rejected a Security Council resolution, calling it an "unjust and unlawful" document that serves political agendas. He defended Iran's military response as a "right to self-defence" following the killing of Ayatollah Khamenei and strikes on civilian infrastructure, urging full accountability for the aggressors.

Read More
Home About Us Our Products Advertise Contact Us Terms & Condition Privacy Policy

Copyright © aninews.in | All Rights Reserved.