The latest jobs report reveals a disappointing addition of only 12,000 jobs this month, sharply down from revised figures of 223,000 last month, with economists attributing the decline to the ongoing Boeing strike and recent hurricanes.
U.S. job openings fell to the lowest level in more than 3-1/2 years in September, pointing to a considerable easing in labor market conditions.
Consumer prices rose slightly more than expected in September amid higher food costs, but the annual increase in inflation was the smallest in more than 3-1/2 years.
U.S. consumer confidence unexpectedly fell in September amid mounting worries over the health of the labor market.
The U.S. Federal Reserve will cut the federal funds rate by 25 basis points in both November and December.
The latest job growth report showed that job additions in August increased but missed economists’ estimates, with the unemployment rate staying nearly the same.
Job openings across America spiraled down to their lowest level since the beginning of 2021, a very concerning notion that the labor market is cooling.
The number of Americans filing new applications for unemployment benefits fell more than expected last week, easing fears of an unraveling labor market.
U.S. job growth slowed more than expected in July, with the unemployment rate increasing 4.3%, leading to fears that the labor market is faltering and the economy is heading for a possible recession.
The Labor Department’s employment report also showed the economy created 111,000 fewer jobs in April and June than previously estimated.