Although there was likely a slowdown in U.S. job growth in September as a result of businesses becoming more wary of the future state of the economy
due to rapidly rising interest rates, overall labour market conditions are still tight, giving the Federal Reserve the justification it needs to continue its aggressive campaign to tighten monetary policy
The unemployment rate remained constant at 3.7% last month
with significant yearly pay increases, according to the Labor Department's carefully awaited employment report, which will be released on Friday.
the labour market has largely held up to higher borrowing costs and tighter financial conditions, according to economists
The COVID-19 pandemic forced some people out of the workforce, in part due to prolonged illness brought on by the virus
note that businesses are reluctant to lay off workers after having trouble hiring in the previous year.