Washington | Rapid jobs and wages growth in the US has pushed up expectations for as many as 10 interest rate rises of 0.25 percentage points this year by the Federal Reserve. It has also created a so-called yield curve inversion in which short-term rates become more expensive than their long-term counterparts.

The US added a further 426,000 jobs last month, said the Bureau of Labor’s report on Friday (Saturday AEST). That pushed the unemployment rate down to 3.6 per cent – just above its pre-pandemic level.