Charting the global economy: Job growth in US tops all forecasts
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓US employment rose by 165,000 last month, beating all forecasts as the jobless rate fell to 4.1%.
- ✓Businesses added many workers across sectors like healthcare and manufacturing.
- ✓Labor productivity also showed a sharp increase in the third quarter, as companies got more efficient to handle rising costs and strong demand.
Story at a Glance
- Category
- Indian Markets
- Reported By
- Economic Times
- Reading Speed
- 4 Minute(s)
- Market Focus
- India Economy
US employment rose significantly last month, with the jobless rate declining to 4.1%, indicating robust economic activity. Labor productivity increased sharply in the third quarter, reflecting business adaptation to rising costs and greater efficiency.
(Bloomberg) -- Employment growth in the US last month exceeded all projections, the jobless rate fell and worker pay rose as solid economic activity bolstered the labor market.
Resilient consumer spending and vibrant business investment are supporting demand and encouraging companies to add more workers. Separate data showed US labor productivity rose in the third quarter by the most in a year as businesses step up efforts to allay higher costs.
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Economic Times
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