A new jobs report exceeded expectations despite the U.S. economy facing inflation and record debt.
U.S. payrolls rose by 172,000 last month, far above the Dow Jones’ 80,000 estimate that CNBC reported Friday. Unemployment remained steady at 4.3%.
“Almost every industry is hiring again except tech and finance. There are a lot of encouraging signs for the labor market heading into summer. (Unfortunately, inflation is a lot worse),” Navy Federal Credit Union chief economic Heather Long stated in a June 6 X post.
The tech industry’s apparent low job growth comes amid heavy investment into artificial intelligence. Goldman Sachs projects that Big Tech’s AI spending will reach $5.3 trillion this year, the DCNF reported Wednesday.
This jobs increase follows a period of increased inflation. The cost of everyday goods rose 0.9% in March and 0.6% in April since the start of the Iran War, according to Consumer Price Index data.
Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact licensing@dailycallernewsfoundation.org
Schedule Summary: President Donald Trump will have executive time, attend a dignified transfer, and deliver…
WASHINGTON — The Trump administration is deferring over $1 billion in federal Medicaid payments to…
Every four years, patriots lose their minds over the presidential race. We spend millions of…
The House passed a bill Monday to expand research into a largely untapped energy source…
Democratic New Jersey Gov. Mikie Sherrill said Tuesday that over 6,000 non-citizens were mistakenly added…