Lower US job gain in August could aid Fed's inflation fight

Lower US job gain in August could aid Fed's inflation fight

2 years ago
Anonymous $Dcz6_RW03I

https://apnews.com/c80de42ef277de65e9dc4d3305908768

WASHINGTON (AP) — America's employers added a healthy number of jobs last month, yet slowed their hiring enough to potentially help the Federal Reserve in its fight to reduce raging inflation.

The economy gained 315,000 jobs in August, a still-solid figure that pointed to an economy that remains resilient despite rising interest rates, high inflation and sluggish consumer spending. Friday's report from the government also showed that the unemployment rate rose to 3.7%, up from a half-century low of 3.5%. Yet that increase was also an encouraging sign: It reflected a long-awaited rise in the number of Americans who are looking for work.