The increase in new U.S. jobs in September slowed to a 17-month low of 263,000, reflecting ongoing labor shortages and waning demand for new workers as talk of recession grows. The increase in hiring was the smallest since April 2021, and fell slightly short of Wall Street estimates.
The unemployment rate, meanwhile, dropped to 3.5% from 3.7%, the government said Friday. That's put it back at a pre-pandemic low and marks one of the lowest rates since the late 1960s.
Source: MarketWatch
