The U.S. private sector created 296,000 jobs in April, far better than expectations of 148,000 jobs.
The figures bode well for a positive reading for the non-farm payrolls report, which is expected to add 180,000 jobs. An index for the services sector was released in April and showed a rise to 51.9 points, coming better than expected.
The International Monetary Fund announced that the US Federal Reserve raised interest rates to restore price stability and balance the labor market, but what happened is that the supply of new jobs exceeds the number of available workers in the United States, as the unemployment rate fell to its lowest level in more than 50 years, which contributed to high inflation.
Source (Al-Arabiya.net Website, Edited)
