US job growth slowed sharply in September likely as Hurricane Florence depressed restaurant and retail payrolls, but the unemployment rate fell to near a 49-year low of 3.7 per cent, 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, which could ease concerns about the economy overheating and keep the Federal Reserve on a path of gradual interest rate increases. Nonfarm payrolls increased by 134,000 jobs last month, ...
US job growth slows sharply in Sept; unemployment rate falls to 3.7%
Payrolls are calculated from a survey of employers, which treats any worker who was not paid for any part of the pay period that includes the 12th of the month as unemployed
Reuters Last Updated at October 5, 2018 20:57 IST