File - A hiring sign is displayed in the window of a Panera Bread store in Pittsburgh on Monday, Jan. 23, 2023. A strong job market has helped fuel the inflation pressures that have led the Federal Reserve to keep raising interest rates. but enough to keep pressure on the Federal Reserve to raise interest rates aggressively to fight inflation.
February’s sizable job growth shows that so far, hiring is accelerating this year after having eased in late 2022. From October through December, the average monthly job gain was 284,000. That average has surged to 351,000 for the past three months. At the same time, average wage growth slowed in February, a trend that suggests that inflationary pressures might be easing. Average hourly earnings rose just 0.2%, to $33.09, the smallest monthly increase in a year. Measured year over year, though, hourly pay is up 4.6%, well above the pre-pandemic trend.
In contrast to the solid hiring last month in the service sector, manufacturers cut 4,000 jobs. And a sector that includes technology and communications workers shed 25,000 jobs, its third straight month of losses. It is a sign that some of the announced layoffs in the economy's tech sector are being captured in the government's data.
The medical field is crazy they’ll pay agency more than the regular employees