U.S. adds 263,000 jobs in September as growth cools

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The latest job market summary for September from the Bureau of Labor Statistics indicates the U.S. labor market has begun to slow; still, the Federal Reserve is monitoring hiring rates to determine if it will continue to raise interest rates, per The New York Times.

The labor market's resilience continues to challenge the Federal Reserve, which is working to cut job growth enough to tackle inflation. In the report released Friday, the Labor Department said employers added 263,000 open positions in September, a decrease from the 315,000 added in August. The unemployment rate also decreased from 3.7 percent to 3.5 over the last month.

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Theara Coleman, The Week US

Theara Coleman has worked as a staff writer at The Week since September 2022. She frequently writes about technology, education, literature and general news. She was previously a contributing writer and assistant editor at Honeysuckle Magazine, where she covered racial politics and cannabis industry news.