Thursday, 29 September, 2022
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US jobs growth slows in August

US jobs growth slows in August

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US employers added 315,000 new jobs in August, far fewer than in July, as fears rise that the labour market is heading for a slowdown.

The jobless rate rose to 3.7% from 3.5%, according to the figures from the US Labor Department.

The report comes on the back of recent data which showed the world's biggest economy continues to shrink.

The US central bank, the Federal Reserve, is raising interest rates to rein in surging prices.

August's figure for non-farm payrolls is sharply lower than July, when US employers added more than 500,000 jobs.

However, the number is slightly higher than economists were expecting.