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.
U.S. bankruptcy filings surged by 18% in 2023 on the back of higher interest rates, tougher lending standards and the continued runoff of pandemic-era backstops, although insolvency case volumes remain well below the level seen before the outbreak of COVID-19, Reuters reports.Â
Undeterred by high prices, rising interest rates, autoworker strikes and a computer chip shortage that slowed assembly lines, American consumers still bought 15.6 million new vehicles last year, 12% more than in 2022, the biggest increase in more than a decade.
The number of Americans applying for unemployment benefits fell last week as the labor market continues to show resilience despite elevated interest rates.