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steep Fed rate hikesPolitico
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84% Informative
Jobless rate fell to 4.1 percent , while hourly wages grew at an annual pace of 4 percent .
The Labor Department also revised up the total for July and August by 72,000 .
The Fed can now "breathe a sigh of relief," economist Justin Wolfers posted on X.com .
The Labor Department reported that the number of available jobs rose in August while layoffs and discharges fell.
Still, fewer workers are quitting their jobs.
The Institute for Supply Management’s widely cited employment indexes for the services and manufacturing sectors both contracted.
The Fed cut rates by or 50 basis points last month to preserve the labor market.
VR Score
88
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89
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