The number could indicate the Fed’s interest rate hikes are starting to take effect, slowing the economy and reigning in inflation.
WASHINGTON — America’s employers slowed their hiring in September but still added a solid 263,000 jobs — a dose of encouraging news that may mean the Federal Reserve’s drive to cool the job market and ease inflation is starting to make progress.
Friday’s government report showed that last month’s job growth was down from 315,000 in August and that the unemployment rate fell from 3.7% to 3.5%, matching a half-century low.
September’s slightly more moderate pace of hiring may be welcomed by the
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