United States Unemployment Rate: On the one hand, people in the United States are troubled by inflation, due to which the debt is becoming expensive. So the danger of recession is also looming. In such a situation, companies are reducing the hiring of new people. Due to which there is a crisis of employment in the country. Unemployment has increased in America in the month of August. According to the figures released by the US Labor Department, the unemployment rate in America has increased to 3.7 percent in August.
According to the data released by the Labor Department, companies have provided 3,15,000 jobs in August, which is less than 5,26,000 given in July. This means that people are not getting jobs. But the increase in the unemployment rate would be giving relief to the US Central Bank, the Federal Reserve, which is increasing the cost of companies by raising interest rates, so that companies reduce people’s wages as well as reduce hiring. Actually it is believed that by paying more salary, people spend more due to which inflation increases.
The Federal Reserve feels that inflation can be reduced by making debt expensive, which has reached a high level of 40 years. Experts believe that if interest rates continue to rise, the crisis of recession on the US economy may deepen.
At the same time, after the increase in the unemployment rate in America, there is a boom in the stock market there. Dow Jones is trading at 31,848 points with a gain of 192 points, while Nasdaq is trading at 11,936 points with a jump of 150 points.
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