Job Growth Slows as U.S. Employers Added Only 315,000 New Jobs in August

NojobsJob growth slowed considerably in August.  At the same time the U.S Department of Labor reported the jobless rate rose to 3.5% from 3.7%.  The sentiment on the street is that the U.S. labor market is continuing to lose-steam.  This is likely to send ripples into inflation and rising interest rates.

Only last week, Fed’s chairman, Jerome Powell, cautioned that interest rates need to continue rising.  And, in order to curb inflation, rising interest rates could become a permanent aspect of the US economy.

It is no secret that “The Airman”, the US Central Bank, the Federal Reserve, has been raising interest rates in an effort to to rein in rampant price increases.

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