U.S. employment rises but unemployment declines

The US labour market remained robust in September as the unanticipated return of a historic low in the unemployment rate put the inflation-averse Federal Reserve on track to implement yet another aggressive interest rate hike.

After growing by 315,000 in August, nonfarm payrolls grew by 263,000 in September, according to a Labor Department data released on Friday. 

A five-decade low was matched by the jobless rate, which decreased to 3.5%. Earnings per hour increased significantly.

In a Bloomberg survey of analysts, the median predictions predicted that payrolls would increase by 255,000 and that the unemployment rate would remain at 3.7%. 

Gains in leisure, hospitality, and health care drove the rather broad hiring.

In the meantime, employment in the transportation, warehousing, and banking sectors fell.


Follow us on


Wealth Baba


Recession Beat Grows Louder With Slower Earnings, Weaker Economy