Job Growth Slows, Casting Doubt on the Next Fed Rate Hike

Job Growth Slows, Casting Doubt on the Next Fed Rate Hike

The U.S. economy added the fewest number of jobs in seven months in April, sparking concerns over whether the Federal Reserve will continue with its plan to raise interest rates before the end of the year. Although the unemployment rate held at 5%, this was due more to workers dropping out of the labor force than to the creation of new jobs. In December, the Fed raised interest rates for the first time in nearly a decade.

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