Washington (AFP) - The unemployment rate rose slightly in the United States in October, while job creation maintained high levels, and these signs do not reflect the effects of the US Federal Reserve's monetary policy to counter inflation.

And data issued Friday by the US Department of Labor confirmed that the unemployment rate rose by 0.2 percent in one month in October, to reach 3.7 percent, but it remained within the rates recorded since March.

On the other hand, job creation maintained a high pace despite its decline compared to September, as 261,000 jobs were created last month, compared to 315,000 in September, in the sectors of health, technical services and industry in particular.

In a statement, US President Joe Biden praised the job opportunities that have been created, indicating that "the recovery in employment remains strong," while unemployment remains at a "historically low" level.

"Inflation remains the main economic challenge for us," Biden added, stressing his "knowledge that American families are feeling the pressure."

The results exceeded analysts' expectations, as they expected the unemployment rate to reach 3.6 percent, with only 220,000 jobs created, according to Breving.com.

Rubella Farooqi, chief economist at AFI, said that the labor market “does not yet show any real sign of adjusting to the rapid monetary policy tightening led by the Federal Reserve,” but there are indications that the labor market in the United States is heading towards contraction as “ Activity rate and average hourly earnings are down.”

The employment situation is being monitored as it is expected to be affected by the fight against inflation. Paradoxically, a relative deterioration of the labor market is both desirable and expected.

The labor market has been experiencing tension for more than a year due to a shortage of workers. Employers struggle to hire and raise wages to attract job seekers and retain their employees, which contributes to higher prices.

On Wednesday, the US Federal Reserve (the central bank) raised interest rates to their highest level in 15 years, and indicated that it would continue in this direction in an effort to curb significant inflation facing the country's economy, in a task complicated by the risk of recession.

As expected, the Federal Reserve raised interest rates by 0.75 percentage points, to within a range of 3.75 to 4 percent.

Investors view the low unemployment rate as a sign of a strong economy, giving the Fed more room to act.