US employers added 263,000 new jobs in September as ‘cracks’ appear in labor market

Jobs market growth has remained robust despite rising interest rates and fears of a recession, but how long it can maintain trajectory is unknown

US employers added 263,000 new jobs in September as the unemployment rate dipped to 3.5%, the Bureau of Labor Statistics announced on Friday.

The jobs market has shown signs of slowing recently after regaining all the jobs that were lost during the pandemic. September's gain was down from the 315,000 jobs added in August and far lower than the 420,000 average monthly gain thus far in 2022. But growth has remained robust despite rising interest rates and growing fears of a recession.