The recent jobs data released by the Labor Department revealed that the unemployment rate fell to 3.5% last month from 3.7% in August, matching a half-century low that was last reached in July. Employers added 263,000 workers in September, adjusted for seasonality.
While this is a good indicator of economic strength, it could influence the Federal Reserve to maintain its hawkishness to curb the surging inflation. The workforce expansion is still well above the monthly gains of around 50,000 that economists think would keep the unemployment rate from falling.
