U.S. Job Growth Slows

Employment rose much less than analysts and economists expected in September along with a drop in government payrolls. However, experts believe that hiring will pick up as COVID-19 infections decrease and more people try to go back to work. Nonfarm jobs increased 194,000 in September, but economists believed job growth could reach as high as 700,000. Even so, the unemployment rate fell to 4.8% from 5.2% in August. Additionally, this is the last jobs report before the Federal Reserve’s policy meeting on November 2nd and 3rd, where it plans to further discuss bond tapering and other monetary policies.