U.S. job market slows

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Data released by the U.S. Department of Labor on Friday showed that the U.S. added just 1.5 million jobs last month, lower than the expected 1.8 million. The unemployment rate fell to 8.5 percent from 9.3 percent, but was still higher than the expected 8.8 percent.

This report suggests that the U.S. economy is slowing under the weight of strikes and high interest rates.

Hiring by healthcare companies and the government drove growth in October, while manufacturing jobs fell by about 35,000, with about 33,000 of those reflecting the impact of a massive strike by the United Auto Workers (UAW).

U.S. job market slows

Analysts say the cooling job market will ease pressure on the Federal Reserve to raise interest rates.

Modified article.

Pressure on Fed to raise rates eases as U.S. job market slows

Data released by the U.S. Department of Labor on Friday showed that the U.S. added just 1.5 million jobs last month, lower than the expected 1.8 million. The unemployment rate fell to 8.5% from 9.3%, but was still higher than the expected 8.8%.

This report suggests that the U.S. economy is slowing under the weight of strikes and high interest rates.

Hiring by healthcare companies and the government drove growth in October, while manufacturing jobs fell by about 35,000, with about 33,000 of those reflecting the impact of a massive strike by the United Auto Workers (UAW).

Analysts say the cooling job market will ease pressure on the Federal Reserve to raise interest rates.

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