US job creation robust despite banking crisis

Published

10 minutes ago

Job creation in the US remained robust last month, despite turmoil in the banking sector and the impact of higher borrowing costs.

Employers added 253,000 jobs, while the unemployment rate fell to 3.4%.

The stronger-than-expected gains were a reminder of the resilience of the US labour market, which has held up better than expected as the US central bank takes steps to cool the economy.

The Federal Reserve has raised interest rates sharply to curb price increases.

More on this story

• US raises interest rates to highest in 16 years

  22 hours ago