April job numbers climb despite rising interest rates and bank turmoil

Washington D.C. (NBC / KYMA, KECY-TV) - With rising interest rates, inflation and economic headwinds, the job market has stayed fairly resilient. In April the Department of Labor added 253,000 jobs with the unemployment rate at 3.4%. Hourly wages have increased by 4.4% in the last month, a slow rise but a positive gain.

Hiking interest rates have spiked higher rates for consumer and business loans, which forces employers to budget cut. Despite the turmoil in the banking industry, the looming debt ceiling plays a vital role role, in financial steps forward for the Federal Reserve. Tackling government spending is key to sustaining an over all healthy economic balance.