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U.S. Unemployment Rate Falls To 3.7%

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Reuters reports that U.S. job growth slowed sharply in September likely as Hurricane Florence depressed restaurant and retail payrolls. The unemployment rate, though, fell to near a 49-year low of 3.7 percent. These point to a further tightening in labor market conditions. The Labor Department’s closely watched monthly employment report on Friday also showed a steady rise in wages. That indicates moderate inflation pressures, which could ease concerns about the economy overheating and keep the Federal Reserve on a path of gradual interest rate increases.

Added on the 05/10/2018 09:16:13 - Copyright : Wochit

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