There has been a stark increase in the job growth rate in the country and this might end up paving the way for the Federal Reserve to increase the interest rates again. This is a great sign for the economy of the country as it promises to get better.
Job Growth rate to increase the interest rates:
The central bank also increased its rates for the first time in a tenure of over a decade and is probably going to continually increase the rates throughout the year.
The data released in this regard might indicate that there have been 200,000 new jobs added in the country only in the month of December.
The job growth rate is also not confined to one domain or one occupation; there has been significant advancements in almost all the fields of work. Janet Yellen, who is the chairman of the Central bank insists that the bank is going to keep increasing the rates periodically throughout the year.
It’s worth mentioning that the main of the indexes, the S&P 500 ended up at a lower closing rate for the year; economists have said that this is not attributable to the move by the Fed. The federal rates in this regard are also expected to grow with the passage of time.
All in all, the economy is expected to gain more solidarity through the New Year as more and more increases in the rates are being reported. The job growth looks like an ongoing process as well with the government making it abundantly clear that it wants to keep providing people with opportunities to make a profitable living. It’s hoped that whatever transpires through the fiscal year benefits the majority of the population in every way.
