In September, the U.S. economy added 263,000 jobs, according to the Bureau of Labor Statistics, and the unemployment rate edged down to 3.5 percent. In addition, the total gains for July were revised up to 537,000 jobs, and August remained at 315,000 jobs.
“This data supports Fed officials’ comments the last few days reiterating they will continue to fight inflation with more rate rises to come,” commented William Marsters, senior sales trader at Saxo UK, who noted that the dollar has strengthened on the news, which is expected to keep pressure on the Federal Reserve to maintain a hawkish outlook.
By employment category, the strongest gains were in leisure and hospitality, which added 83,000 jobs, and healthcare, which added 60,000 jobs. In addition, increases were seen in professional