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05.05 - 10:01
Pro Take: Fed’s Rate Increases Slow U.S. Factories, but Plants Keep Workers
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The 13 million-worker U.S. manufacturing sector is feeling the Federal Reserve’s inflation-fighting actions. But amid heavy competition for labor, the effect on workers has been limited, with only scattered job cuts as the central bank has repeatedly raised interest rates to cool the economy.
The Institute for Supply Management said Monday in its bellwether report that manufacturing conditions contracted for the sixth month in a row in April, though at a slower pace.
The...
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