The US workforce added 199,000 jobs last month, a robust reading as the world’s largest economy continues to grapple with higher interest rates.
Employment growth has been fading this year after the Federal Reserve launched an aggressive campaign to pull back inflation from its highest levels in a generation. Official data has bolstered hopes that the central bank will manage to guide the US economy to a so-called “soft landing”, where price growth normalises and recession is avoided.
