FED hike fears: Bank of America warns Fed , Jobs market Cracks

By Naveen October 12, 2022

Bank of America has recently warned of a negative impact on job creation.

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It is well known that inflation has increased due to high demand for goods and services in America.

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The Federal Reserve stepped in to check this by raising interest rates.

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Bank of America estimates that this will have a negative impact on job creation.

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In the last quarter of this year, the growth rate of job creation will be cut in half.

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From the first quarter of next year, 1,75,000 job opportunities are likely to disappear every month.

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But according to the government's calculations, 2,63,000 new job opportunities were made available to the American people in the last month.

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The conference board commented that the unemployment rate in America is likely to rise to 5.5 percent by the end of next year.

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