Jobs report is likely to show another month of modest but steady hiring gains
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The U.S. labor market continues to add jobs, with an expected 140,000 jobs added in September, similar to August's 142,000; economists note a slowdown in hiring momentum; the Federal Reserve raised interest rates 11 times in 2022 and 2023 but began cutting rates last month; inflation remains a concern, with prices 19% higher than February 2021; the economy grew at 3% from April to June and is projected to grow at 2.5% for July-September; layoffs are near record lows, but job openings have decreased to 8 million from a peak of 12.2 million; fewer Americans are quitting jobs, with job-hopping pay premiums declining; average hourly wages are expected to rise 0.2% in September; the Fed plans further rate cuts to support the job market.
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https://abcnews.go.com/US/wireStory/jobs-report-show-month-modest-steady-hiring-gains-114488931
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