Hiring In USA: More than 5 lakh people got new jobs amid fears of recession in America

Hiring In USA: More than 5 lakh people got new jobs amid fears of recession in America

Hiring In USA : On one hand, due to the economic recession in the whole world, layoffs are going on in many big tech companies. Even in America, which is counted among the strong countries of the world, some companies have thrown thousands of their employees out of jobs. At the same time, a big news is coming out from America, in which the US government has claimed that more than 5 lakh people have got new jobs in January. Know what are the complete details…

Good news amid rising inflation 

According to the data of the American Labor Market, 5 lakh 17,000 people have got new jobs in the month of January amid rising inflation in America. Efforts have been made to reduce inflation with the same Federal Reserve’s slow growth and high interest rates. As a result, the unemployment rate in America has now come down to 3.4 percent. Which has come down to the lowest level since 1969. 

What did the economist say 

So much for moderation, we certainly didn’t see it in this report, says Beth Ann Bovino, Chief US economist at S&P Global Ratings. Job growth has been broad-based, including some industries that economists had expected to show signs of slowing. The labor force participation rate was barely changed at 62.4 percent. The Fed official is hopeful that there will be an increase in the number of people working in America. That can reduce the strength of the labor market, which is also pushing up wages and contributing well to inflation.

People had lost jobs in IT 

Earlier, within 90 days in America, more than 2 lakh people in the IT sector were thrown out of their jobs by their companies. In which 30 to 40 percent, ie 60 to 80 thousand employees of Indian origin are included. The layoffs ranged from several IT companies to small startups such as Twitter, Google, Microsoft and Amazon.

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