jobs

The Federal Reserve is preparing to raise interest rates sooner and — perhaps — more aggressively after inflation reached the highest in nearly 40 years.

Governor Roy Cooper announced that aerospace company Boom Supersonic will manufacture its new passenger aircraft at Piedmont Triad International Airport in Greensboro.

U.S. employers added 199,000 jobs in December as the unemployment rate fell to 3.9%, marking a second consecutive month of disappointing numbers.

Hiring slowed sharply last month, even as the unemployment rate fell to 4.2%. Data from the Labor Department suggest the economy was losing steam even before the appearance of a new COVID-19 variant.

U.S. employers added 531,000 new jobs as the unemployment rate fell to 4.6%. Millions of would-be workers are still on the sidelines, though, leaving the pace of the recovery in doubt.

The Fed left interest rates near zero on Wednesday but announced plans to start removing some of the support it has provided to the economy as inflation hits its highest point in 30 years.