September hiring slows but employers add 263,000 positions

✔ Fact Checked by TDPel News Desk

By Pelumi Emmanuel

Published: October 7, 2022 | 2:05 PM

The Labor Department said on Friday that employers added 263,000 jobs last month, marking the slowest month of hiring in the past 18 months. The sectors with the greatest growth were leisure and hospitality and health care.

In September, the unemployment rate reached a 50-year low of 3.5% as firms continued to hire from a decreasing labor pool.

The data indicate that the labor market remains tight despite the fact that employment growth has slowed due to rising interest rates and economic uncertainty.

This is an evolving narrative.

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About Pelumi Emmanuel

Pelumi Emmanuel is an accomplished writer and journalist with over 15 years of experience in the industry. He is a passionate and dedicated professional who is committed to producing high-quality content that informs, engages, and entertains readers. Pelumi’s love for reading and writing is evident in his work, which has been read worldwide and has garnered him a loyal following. His journalistic expertise is matched only by his natural talent for storytelling, making his articles both informative and engaging. He lives in California, USA.