WASHINGTON: US employment growth slowed unexpectedly for the third straight month in September, which could make the Federal Reserve more cautious about raising interest rates. Nonfarm payrolls rose 156,000, down from a revised gain of 167,000 jobs in August, the Labor Department said on Friday. Fed Chair Janet Yellen has said the economy needs to create less than 100,000 jobs a month to keep up with population growth. Investors see no chance of a rate increase at that meeting given how close it is to the Nov 8 presidential election. The annual growth rate has shown signs of accelerating over the last year although it remains slower than before the 2007-09 recession.

Source: Bangkok Post October 07, 2016 13:07 UTC