U.S. Unemployment Rises to 3.7%
Earlier this week saw the White House noting employment as strong data against a recession. Today, that comment takes a bit of a hit, as the U.S. unemployment rate rises to 3.7%. With the Federal Reserve raising interest rates yet another 75bps this week, all eyes are on how the economy will respond. The labor department has just issued a report that shows American employment has taken a small downturn. J US T IN: 🇺🇸 US unemployment rate increases to 3.7%. — Watcher.Guru (@WatcherGuru) November 4, 2022 Interest Rate Consequences Incoming? Reported initially by The Guardian, the department has announced that the unemployment rate has risen to 3.7%. Although this does stand as an increase, it remains close to a 50-year low according to the publication. The FOMC met earlier this week in what resulting in the previously stated interest rate hikes. This was done in an effort to battle inflation, and slow investment, with many predicting a recessiona...