September hiring slows but employers add 263,000 positions
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September hiring slows but employers add 263,000 positions

The Labor Department said on Friday that employers added 263,000 jobs last month, marking the slowest month of hiring in the past 18 months. The sectors with the greatest growth were leisure and hospitality and health care.

In September, the unemployment rate reached a 50-year low of 3.5% as firms continued to hire from a decreasing labor pool.

The data indicate that the labor market remains tight despite the fact that employment growth has slowed due to rising interest rates and economic uncertainty.

This is an evolving narrative.


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