US adds over 500,000 jobs despite global workforce reduction

Marcus Amudipe
Marcus Amudipe


By Christian George

Despite the increasing slashing of workforce globally, US employers added 517,000 in January.

A report on Friday has it that unemployment and redundancy has reduced while employment peaked despite economists forecast of recession around the corner.

The surge in demand for workers has helped in increasing wages and contributed to inflation.

Unemployment rate in the US was said to have reduced by 3.4%, the lowest level since 1969.

The employment growth led to an average hourly pay rise of 4.4% last month from a year earlier, slower than the 4.8% year over year increase in December.

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