Posted on 10/07/22
| News Source: FOX Business
U.S. job growth slowed for a second consecutive month in September, but hiring remained solid despite growing headwinds from higher interest rates, scorching-hot inflation and mounting recession fears.
Employers added 263,000 jobs in September, the Labor Department said in its monthly payroll report released Friday, slightly topping the 250,000 jobs forecast by Refinitiv economists.
The unemployment rate, meanwhile, unexpectedly dropped to 3.5%, the lowest since the COVID-19 pandemic began two years ago.