The US created 263,000 jobs in September

In the ninth month of the year, the United States created 263,000 new jobs. Although it is the weakest data since April 2021, it still represents a figure 3% higher than expected, which reinforces the robustness of the US labor market, whose unemployment rate fell to 3.5% in a year marked by inflation. and the war in Ukraine.

Experts in the financial markets received the figure with optimism. Specifically, they have pointed out that the US economy needs to create 90,000 jobs per month to be able to absorb the incoming workforce, so the September data reinforces a favorable trend to reduce unemployment more quickly.

During August, 315,000 jobs were added to the labor market and 537,000 in July, with which the creation of jobs has averaged a total of 420,000 jobs per month so far this year, compared to 562,000 jobs per month in 2021.

The sectors that led the most significant increases were three: leisure, lodging, as well as health care.

Specifically, leisure and lodging incorporated 83,000 new employees in September, in line with the average monthly increase in the first eight months of the year, while health care generated 60,000 new jobs in the ninth month of the year.

Also, in September the average hourly earnings of employees increased 10 cents to 32.46 dollars. In this way, in the last 12 months the average earnings per hour have risen 5 percent.

On the other hand, the unemployment rate, which had rebounded in August, fell in September to 5.8 million unemployed people and reduced the rate by two tenths to 3.5%, similar to the levels prior to the Covid-19 pandemic, according to data released Friday by the Bureau of Labor Statistics.

Growth in US job creation is likely to have slowed in September as hiring difficulties in the labor market remain, providing the Federal Reserve with arguments to continue its campaign to tighten monetary policy.