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US Hiring Rebounds Slightly And Unemployment Rate Dips In Sign Of Still-Slowing Job Market

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Federal Reserve,Interest Rates

The figures depict a job market slowing under the pressure of high interest rates but still growing.

WASHINGTON — Hiring by America’s employers picked up a bit in August from July’s sluggish pace, and the unemployment rate dipped for the first time since March in a sign that the job market may be cooling but remains sturdy.

Becky Frankiewicz, North American president of the staffing firm ManpowerGroup, said that uncertainty around the presidential election and the Fed’s next moves are causing many companies to hold back on new investments and hiring. At the same time, consumer spending, the principal driver of economic growth in the United States, rose at a healthy pace in July. And the economy grew at aThank you for your past contribution to HuffPost. We are sincerely grateful for readers like you who help us ensure that we can keep our journalism free for everyone.

The stakes are high this year, and our 2024 coverage could use continued support. We hope you'll consider contributing to HuffPost once more.Later Friday, Christopher Waller, a member of the Fed’s Board of Governors, is scheduled to discuss the economic outlook in a speech at the University of Notre Dame. Waller, an influential member of the governing board, may provide insights into the Fed’s next moves.

 

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