US unemployment rate rises to 3.8%, Non-farm payrolls added 336k jobs

By MG News | October 06, 2023 at 05:31 PM GMT+05:00

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October 06, 2023 (MLN): The U.S. unemployment rate for the month of September rose to 3.8%, while non-farm payrolls (NFP) added 336,000 jobs for the said month, the latest data issued by the U.S. Bureau of Labor Statistics on Friday showed.

NFP, which shows the number of jobs created in the U.S. excluding farm workers, added more jobs than the market analysts' expectations of just 170,000 jobs, and was higher than the average monthly gain of 267,000 over the prior 12 months.

Job gains occurred in leisure and hospitality; government; health care; professional, scientific, and technical services; and social assistance.

The number of unemployed persons was unchanged at 6.4 million.

NFP is a key indicator of the U.S. labor market performance.

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