As the US economy continues to add jobs, the Federal Reserve is expected to raise interest rates for the first time in almost a decade come September
The US economy added 215,000 jobs in July, while the unemployment rate remained steady at 5.3%, meeting expectations. The numbers released by the Department of Labor on Friday heighten expectations that the Federal Reserve will raise interest rates as soon as September.
Economists expected US employment to have grown by 225,000 jobs last month, and for the unemployment rate to hold at a seven-year low of 5.3%. So far this year, job gains have averaged 208,000 a month.
Source: The Guardian Circular Economy RSS