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U.S. Economy Added 263,000 Jobs In September, Unemployment Rate Falls To 3.5%

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deadline.com

Employers added 263,000 jobs in September and the unemployment rate fell to 3.5%, in line with expectations that job growth would slow during the month.

Still, the pace of hiring was slightly higher than predictions. The biggest job gains were in leisure, hospitality and health care, according to figures from the Bureau of Labor Statistics.

To tame inflation, the Federal Reserve has been trying to slow the economy by raising interest rates, moves that risk sending the U.S.

into a recession. Average hourly earnings in the private, nonfarm sector rose by 10 cents, or 0.3%, to $32.36. Employment in movies and recording industries rose slightly to 444,400, up 5,200 jobs from the previous month.

Read more on deadline.com
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