The unemployment rate went up to 3.6% in February, an increase from the 3.4% rate in January that marked a five-decade low, the Bureau of Labor Statistics announced Friday.The rise in unemployment is perhaps a small indicator that the economy is beginning to cool off as interest rates have gradually increased over the past year.
However, the number of people on long-term unemployment, those unemployed for over half a year, continued to decline in February, falling to 1.06 million Americans.
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Economy again beats expectations with 311,000 jobs in February, unemployment rises to 3.6%JUST IN: The stronger jobs report shows that the central bank's rate hikes aren’t yet having the punch officials hoped and could cause the Fed to lean toward a more aggressive monetary stance at its meeting later this month. Good. These were jobs were finally filled after the pandemic closures & the unemployment/free government money stopped & people have to work to survive; these are not newly created jobs. Raising taxes will cause layoffs, even higher prices; a never ending viscous circle of pain. A lot of that job growth is from people taking second & third jobs just to not go under. The Fed won't stop until they have a high enough unemployment rate. And some people are working 16-18 hours a day just to make ends meet. This ain't my first rodeo!
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