US employers add a surprisingly strong 216,000 jobs in a sign of continued economic strength

The nation's employers added a robust 216,000 jobs last month, the latest sign that the American job market remains resilient even in the face of sharply higher interest rates.

Fed Chair Jerome Powell warned of hard times ahead after the central bank began jacking up interest rates in the spring of 2022 to attack high inflation. Most economists predicted that the much higher borrowing costs that resulted would cause a recession, with layoffs and rising unemployment, in 2023. Yet the recession never arrived, and none appears to be on the horizon.

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