New Delhi, July 5 -- The latest addition of fresh jobs in the US economy has reduced the pressure from the Federal Reserve. It has allowed the central banking system of the United States to reconsider the cut in interest rates.
A report presented by the US Bureau of Labor Statistics highlighted the solid creation of jobs by the US economy and a noticeable fall in the unemployment rates. After this revelation of significant jobs creation, there would be fewer chances of interest rate cut decisions in the upcoming July meeting of the Federal Reserve.
Some analysts like Samuel Tombs (chief US economist at Pantheon Macroeconomics) highlighted the loopholes of the job surge report. He pointed out that the new job additions only covered some se...