US Jobs Market Remains Stable Amid Interest Rate Hikes
The US jobs market showed stability in September, according to the Labor Department's latest report. Economists expect that the country added 100,000 jobs last month, following a strong gain of 162,000 job gains in August. The unemployment rate is anticipated to remain unchanged at 4.1%.
A stable labor market has given the Federal Reserve leeway to raise interest rates as it focuses on tackling persistently high inflation. Fed Chairman Kevin Warsh emphasized that bringing down inflation does not have to come at the expense of US workers, stating, 'I don't believe that we need to do harm to the labor markets to achieve our objective.'
The September jobs report comes after a string of indicators on US employment trends this week. Job openings and hiring were little changed in August, with 7.1 million new job openings added in July.