Washington. US employers provided a total of 2.53 lakh jobs in April amid interest rate hikes by the Federal Reserve. The US Labor Department said in employment data released on Friday that the unemployment rate fell to 3.4 percent this month, which is equivalent to the lowest level in the last 54 years. The labor department said that hiring activity remained solid in April, while it slowed down in the months of February and March. Hourly wages rose the fastest in April since July. However, this figure may increase the concern of Federal Reserve officials keeping an eye on inflation.
Actually, with the increase in salary, the possibility of increasing inflation also increases. Experts say that despite the continuation of interest rate hike by the US central bank, the job market remains strong. The layoff rate is still low while the number of new recruits is comparatively high.