The robust pace of US jobs growth cooled in September but the unemployment rate unexpectedly dropped, firming expectations that the Federal Reserve will raise interest rates by another 0.75 percentage points at its next meeting in November.
The world’s largest economy added 263,000 positions last month, according to the Bureau of Labor Statistics, fewer than the 315,000 positions created in August and well below July’s 537,000 increase.
So far in 2022, monthly jobs growth is averaging 420,000, down from the 562,000 average monthly pace in 2021.
Source: Jordan News Agency