February 3, 2023

Unemployment Hits Lowest Rate in Decades — and Wall Street Doesn’t Know What to Make of It

AFP

US jobs surge, tech concerns whiplash stocks and send dollar higher

A surge in hiring in the United States renewed worries about aggressive interest rate hikes on Friday, bolstering the dollar and whiplashing Wall Street stocks.Data showing that after a five-month slowdown in hiring, the world’s biggest economy added 517,000 jobs in January, may have dented hopes that the US Federal Reserve could slow interest rate hikes further or even reverse them later this year.

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