Far more jobs were created in the US economy in September than expected. 336,000 new non-agricultural jobs were added, according to the government’s labor market report presented on Friday. Economists surveyed by the Reuters news agency had only expected an increase of 170,000. At the same time, the value for job creation in August was revised upwards to 227,000 from the originally reported 187,000 jobs. The separately determined unemployment rate in September remained at the previous month’s value of 3.8 percent. Experts had expected a decline to 3.7 percent.
The US central bank Fed is combating high inflation with a tight monetary policy line. At the same time, it wants to cool down the hot labor market without stalling the economic engine. After some sharp interest rate increases, the Fed recently left the key monetary policy rate in the range of 5.25 to 5.50 percent.