This could prove concerning to policymakers, with risks that elevated wages could feed into inflation. "Job growth was widespread, led by gains in leisure and hospitality, professional and business services, and health care," the report added. Taken together, these figures suggest the labor market remains too hot for policymakers, with the hiring figure marking a spike from December's 260,000 number. He pushed back against critics who, he says, suggest that "the only way to slow down inflation was to destroy jobs." "Today's data makes crystal clear... these critics and cynics are wrong," he told reporters, though conceding there remains more work to do.

Source: The Hindu February 03, 2023 22:26 UTC