Home Business USA: Job growth to a minimum from April 2021 to September. Unemployment down to 3.5%

USA: Job growth to a minimum from April 2021 to September. Unemployment down to 3.5%

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USA: Job growth to a minimum from April 2021 to September.  Unemployment down to 3.5%

In September, the US economy created 263,000 new jobs, slightly below the 275,000 new paychecks estimated by Dow Jones economists. However, analysts’ estimates, in general, ranged from an employment growth of 127,000 to 375,000.

The unemployment rate fell from 3.7% to 3.5% in September, positioning itself below the 3.7% expected by the consensus.

Workforce participation fell 0.1% to 62.3%, compared with the previous 62.4%.

The growth of new jobs in July was revised upwards, from 526,000 to 537,000; employment growth in August was confirmed at +315,000 units.

The employment report highlighted the slowdown in job growth in September: the increase in payrolls was in fact the lowest since April 2021, confirming how the continued rate hikes by the Fed by Jerome Powell are depressing the fundamentals of the US economy: what the US central bank wants to provoke, in order to stave off inflation.

The number of hours worked remained unchanged at 34.5, while hourly wages rose an average of 10 cents, or 0.3%, to $ 32.46.

On an annual basis, the growth of wages – among the parameters that monitor the inflation trend – was equal to + 5% on an annual basis, less than the expected increase of 5.1% and slowing compared to the previous growth of 5.2 %.

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