US economy created the lowest number of jobs for a year-and-a-half in February, well below forecasts. Just 20,000 new jobs were created last month against expectations of a 180,000 increase, official figures show.
The Federal Reserve on Wednesday signaled its three-year-drive to tighten monetary policy may be at an end amid a suddenly cloudy outlook for the U.S. economy due to global headwinds and impasses over trade and government budget negotiations.
The number of United States citizens filing applications for unemployment benefits fell to more than a 49-year low last week, but the drop likely overstates the health of the labour market as claims for several states including California were estimated.
The US economy created many more jobs than expected in December, according to the latest government data. Employers added 312,000 jobs, far ahead of predictions of 177,000, the Labor Department said.
Wages in the United States grew at their fastest pace for nine years last month, the latest official figures show. The US Labor Department said wages grew at an annual rate of 3.1% in October, accelerating from a rate of 2.8% the month before. The economy also added 250,000 jobs last month, beating expectations, while the jobless rate remained at 3.7%.
A hungry American economy powered by a strong U.S. dollar saw record imports in September, driving the U.S. trade deficit to its highest level in seven months, the government reported on Friday.
The US economy slowed less than expected in the third quarter as a tariff-related drop in soybean exports was partially offset by the strongest consumer spending in nearly four years, keeping it on track to hit the Trump administration’s 3% growth target this year.
United States president Donald Trump has sharpened his attacks on the Federal Reserve, saying it posed the biggest risk to the US economy. He also targeted Fed chairman Jerome Powell, telling the Wall Street Journal he seemed happy to be raising interest rates.
United States voters love the performance of the economy, but it has failed to translate into higher approval for President Donald Trump, according to one new poll. The disconnect is perhaps the biggest challenge facing Republicans as they battle to keep control of Congress in November's midterm elections.
The United States economic growth was stronger than initially thought in the second quarter, notching its best performance in nearly four years and putting the economy on track to hit the Trump administration’s goal of 3% annual growth.