America’s employers added a stunning 517,000 jobs in January, a surprisingly strong gain in the face of the Federal Reserve’s higher interest rates. Given that employers added less than 300,000 new jobs in each of the past three months and the Federal Reserve has increased borrowing costs for the past year the January jobs report is astonishing.
After reaching a horrifying rate of 8.5% in March of 2022, the inflation rate was down to 6,5% this past December.
So with jobs plentiful, employers offering higher pay, and inflation declining is this economy in trouble?
The answer is an emphatic NO.
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