US jobs growth rate better than expected

Amid the rising inflation in the United States of America, there is a positive news that has surfaced lately. The jobs growth rate in the country is increasing at a better rate than it was estimated. This news brings some sense of relief to the citizens of the country. As the economy and industries continue to recover from the aftermath of the pandemic, around  678,000 jobs, were added in the last month. According to the US Bureau of Labor Statistics, the unemployment rate in the country also came down to 3.8%. Leisure and hospitality, professional and business services, health care, and construction were the sectors where most of the jobs were created last month. Previously, it was estimated that around 400,000 jobs will be added in the last month by the analysts. Inflation is on the rise in the United States. Earlier Jerome Powell, chairman of the US Federal Reserve has informed that he is in favor of increasing the interest rate by 0.25% to keep a check on the soaring inflation rate. Neil Birrell, chief investment officer at Premier Miton Investors said: "It looks like rates up by 0.25 basis points will be coming this month, as noted by Powell yesterday. The outlook is too uncertain for more than that."