Average hourly earnings climbed 2.8 percent from a year earlier, matching projections, while the jobless rate fell more than projected to 3.7 percent, the lowest since 1969. (Photo: Shutterstock)
U.S. hiring cooled in September by more than forecast, wage gains eased slightly and the jobless rate fell to a 48-year low, illustrating a tight labor market as well as the impact of Hurricane Florence.
Nonfarm payrolls rose 134,000 after a 270,000 gain the prior month that reflected a large upward revision, a Labor Department report showed Friday. The median estimate in a Bloomberg survey called for an increase of 185,000 jobs. Average hourly earnings climbed 2.8 percent from a year earlier, matching projections, while the jobless rate fell more than projected to 3.7 percent, the lowest since 1969.
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