The US added 119,000 jobs in September but unemployment reached its highest level in four years, in figures that will complicate the Federal Reserve’s decision on whether to cut interest rates next month.
Thursday’s jobs number was far greater than the expectations of 50,000 new posts among economists polled by Bloomberg. But it was offset by downward revisions of 33,000 to the previous two months’ tallies.
August’s figure was revised to a loss of 4,000 jobs, marking just the second time since the Covid-19 pandemic that the US economy has shed positions.
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