Find My Broker
US Jobs Are up 18% Since COVID Struck, Now Standing Above Precovid Period
Finance News

US Jobs Are up 18% Since COVID Struck, Now Standing Above Precovid Period

Edith Muthoni
Fact Checked
Fact Checked
Everything you read on our site is provided by expert writers who have many years of experience in the financial markets and have written for other top financial publications. Every piece of information here is fact-checked. We sometimes use affiliate links in our content, when clicking on those we might receive a commission - at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy.

 

Employment has increased steadily since the depths of the Covid-19 lockdowns in 2020. According to TradingPlatforms.com, US jobs have grown by 18% and exceeded the pre-pandemic high of 152.5 million by one million jobs. This is a testament to the resilience of the US economy, which has managed to weather an unprecedented period of global economic disruption.

TradingPlatform’s financial analyst Edith Reads commented on the data saying,” It is clear that the US economy is continuing to show incredible resilience in the face of an ongoing pandemic and economic uncertainty. This bodes well for a rebound in consumer spending, which will be essential in order to sustain any kind of recovery.”

Raise Interest Rates

Still, with wages failing to keep up and the Fed set to raise interest rates next week, questions remain about whether this recovery will be sustained.

The Fed is expected to raise interest rates next week, which could slow the recovery and dampen consumer spending. The CME FedWatch Tool puts the likelihood of such a hike at 79.4 percent with a rise of 50 basis points, while the probability of another 75-point hike stands at 20.6 percent. Market participants are now desperately hoping for signs of a slowing economy/labor market. Anything signaling a slowdown increases the chances of the Fed pivoting to less aggressive rate hikes going forward.

For now, it remains to be seen whether the US economy will continue its recovery or if rising costs and stagnant wages will temper consumer spending enough to derail the recovery. Either way, the next few weeks should provide investors and traders with a clearer picture of what the future holds for US jobs and the economy.

Ultimately, it’s impossible to predict the future with any certainty. However, it is clear that US jobs data will be vital in determining what action the Fed takes moving forward and whether or not Wall Street’s hopes for a slowdown are realized. Investors should remain vigilant and keep an eye on economic indicators such as US job growth over the coming weeks and months to gauge the health of the US economy and act accordingly.

Question & Answers (0)

Have a question? Our panel of experts will answer your queries. Post my Question

Leave a Comment

Write a Review

Your email address will not be published. Required fields are marked *

Edith Muthoni

Edith Muthoni

Edith is a finance expert who has been writing and trading for years. She's knowledgeable about stocks, cryptocurrencies, blockchain technology as well the latest fintech trends - all from an informed perspective that will help you make better decisions when it comes time to invest your money.