U.S. Job Growth Slows, Clouds Case for Fed Rate Hike

U.S. employment growth unexpectedly slowed for the third straight month in September and the jobless rate rose, which could make the Federal Reserve more cautious about raising interest rates.

Nonfarm payrolls rose 156,000, down from a gain of 167,000 jobs in August, the Labor Department said on Friday.

Although the employment report suggested the U.S. economy was still expanding, it was expected to further reduce the chance of a rate increase at the Fed’s November policy meeting. There is, however, a much higher likelihood of a hike at the U.S. central bank’s last meeting of the year in December.

Reuters

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