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U.S. Job Growth Cools While Unemployment Rate Drops to 3.7 Percent

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According to Reuters, U.S. job growth slowed sharply in September, with the unemployment rate falling to near a 49-year low of 3.7 percent, pointing 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, suggesting moderate inflation pressures. Data showed that the economy needs to create roughly 120,000 jobs per month to keep up with growth in the working-age population.

Added on the 05/10/2018 15:03:42 - Copyright : Wochit

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