US adds 263,000 jobs in Sept, unemployment rate falls to 3.5%2 min read 07 Oct 2022, 06:03 PM IST
US jobs report: The steady slowdown in new positions is good news for the Federal Reserve as it works to cool the economy and tamp down rampant inflation
Hiring in the US continued at a solid, yet more moderate pace last month and the unemployment rate slipped two-tenths of a percentage point to 3.5%, indicating the labor market remains tight and has so far proven resilient to steep interest-rate hikes by the Fed. Friday’s US jobs report will give a fresh indication of inflation pressures in the country.
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