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According to data released by the US Department of Labor on the 6th, the US unemployment rate remained unchanged at 3.8% in September this year. The non-farm sector added 336,000 jobs, above the 12-month average of 267,000. By industry, leisure and hospitality employment increased 96,000 month-on-month in September, while government employment increased 73,000 and health care employment increased 41,000. The data also showed that the US Labour force participation rate remained flat at 62.8% in September from the previous month, still below pre-coronavirus levels. Separately, the Labor Department revised the number of nonfarm jobs added in July and August to 236,000 and 227,000, respectively. With the U.S. job market remaining strong, there are expectations that the Federal Reserve may also raise interest rates. After the September monetary policy meeting, the Fed kept the target range for the federal funds rate at 5.25% to 5.5%.
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