236K NEW JOBS IN SEPTEMBER

The U.S. added 263,000 jobs in September and the unemployment rate fell to
3.5 percent, according to data released Friday by the Labor Department.

The September employment report showed job growth continuing to slow from a torrid pace earlier in the year but remaining strong as the economy powers through high inflation and rising interest rates.

The jobless rate also dropped by 0.2 percentage points and returned to pre-pandemic level in February 2020, which was the lowest unemployment rate in nearly 50 years.

Economists expected the U.S. to have added roughly 250,000 jobs last month and the unemployment rate to remain at 3.7 percent, according to consensus estimates. The decline in the jobless rate last month came as labor force participation fell slightly — a sign of ample demand for workers even amid recession fears.