America was playing tariff-tariff. Had set out to create a stir in the world. He was trying to fix his own by ruining the economy of others. But his own Lanka has been destroyed. The condition of America is not good. He himself is in need of livelihood. People are losing their jobs in America. This is confirmed by the data of the Trump government itself.
In fact, according to data released by the Bureau of Labor Statistics, 92,000 jobs were lost in America in February. This is a sign of possible weakness in the US economy. In the US, 92,000 jobs were reduced in the month of February, indicating possible weakness in the US economy. These figures were released by the Bureau of Labor Statistics.
According to the report, nonfarm payrolls decreased by 92,000 from the previous month. This is the third time in the last five months that a decline in employment has been recorded. The unemployment rate in the country has increased to 4.4 percent, as jobs have decreased in many major sectors. According to Xinhua News Agency, 28,000 jobs were reduced in the healthcare sector. The main reason for this is said to be the strike in a big health insurance provider company.
Gary Clyde, nonresident senior fellow at the Peterson Institute for International Economics, said, ‘I have been expecting a weakening of the labor market for a long time. Now this has come to light. Although I do not expect a major crash, employment growth may remain slow in the coming months. He said that tax and tariff refunds are positive aspects for the economy while higher energy prices are negative aspects.
Dean Baker, co-founder of the Center for Economic and Policy Research, said that employment figures were weaker than expected, but bad weather could also be a reason for this. February saw severe cold with record snowfall in some areas. He said that 30,000 jobs were lost in the restaurant sector and 11,000 in the construction sector, in which the weather played a role. At present, no sector is showing strong employment growth. Along with this, the salary has increased more than expected. Average hourly earnings increased 0.4 percent month-on-month and 3.8 percent year-on-year.
Mary Daly, President of the Federal Reserve Bank of San Francisco, told CNBC that these figures show that expectations of the labor market being stable were probably higher. Also, inflation remains above the target and oil prices are increasing. According to the report, 11,000 jobs were reduced in the information services sector, the reason for which has been said to be cuts related to Artificial Intelligence. Whereas 12,000 jobs decreased in the manufacturing sector.
Thomas Simons, senior economist at Jefferies, said that at the moment it is not necessary that there will be further bad employment data, but the risk of economic recession has definitely increased. Meanwhile, the Federal Reserve is keeping an eye on the labor market situation and is waiting for the right time to cut interest rates. Economists are also keeping an eye on what will be the impact of the ongoing war between America and Iran. If this conflict escalates further, there could be a sharp increase in global oil prices, which could have a negative impact on the US economy.