Despite the increase in jobs, the unemployment rate in the United States rose to 4.4%
The rate of Unemployment in The unemployment rate rose from 4.3 to 4.4%, according to what the Labor Department said.
The last similar report was issued in early September, which means that Thursday’s report is the first official glimpse of the overall labor market situation in more than two months.
It also means that the data is not recent, as it dates back to a time when the main labor market was weakening amid federal job losses and successive waves of tariffs.
Expectations of interest rate cuts
will be reversed. The report is on the Federal Reserve, as policymakers will decide whether to lower interest rates for the third time in a row this year during their next central bank policy meeting, expected in December.
The decline in the employment market could prompt the Federal Reserve to cut interest rates further in hopes of boosting the economy, but officials are also trying to control inflation.
The Labor Department report on Thursday showed that the employment situation is worse than August expectations indicated, with the economy losing 4,000 jobs instead of recording gains.
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