Jobs growth in the US accelerated in September, confounding analysts’ expectations and adding to investors’ anxieties that interest rates will stay higher for longer.
Numbers from the Bureau of Labor Statistics showed that US employers added 336,000 new jobs in September. That marked a sharp step up from August’s figure, which was revised up by 40,000 to 227,000. Economists surveyed by Bloomberg had expected a September reading of 170,000.
The unemployment rate came in at 3.8 per cent in line with August’s figure and slightly higher than expectations of 3.7 per cent.
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