U.S. employers added 261 thousand jobs last month, but job growth has slowed – NPR

by | Nov 4, 2022 | Jobs

U.S. employers added 261 thousand jobs last month — more than forecasters expected. But job growth has slowed from earlier in the year, and that slowdown could help ease upward pressure on inflation.

The U.S. job market cooled off last month but only a little bit. You might say it went from sizzling to simmering. A new report from the Labor Department shows employers added 261,000 jobs in the month of October. That is fewer jobs than the month before. Analysts say a slowdown in the labor market could help take some of the pressure off inflation. NPR’s Scott Horsley joins us now. Hey, Scott.
SCOTT HORSLEY, BYLINE: Good afternoon.
SUMMERS: So, Scott, just tell us, what should we make of this employment report?
HORSLEY: You know, it shows the labor market is remarkably resilient despite high prices and rising interest rates. Employers have added more than 4 million jobs so far this year. A former Federal Reserve economist, Julia Coronado, says that’s a really strong showing even if October’s job gains were a downshift from the first half of the year.
JULIA CORONADO: Hiring remains broad-based and r …

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