Justin Boggs is a writer for the E.W. Scripps company. Justin covers anything from politics to sports and entertainment.
Hiring levels in the U.S. exceeded expectations as employers added 336,000 workers in September, according to data released by the Bureau of Labor Statistics on Friday.
The continued uptick in hiring comes even as federal interest rates are at a 23-year high. High interest rates are meant to cool inflation but generally also cause employment to take a downturn. One reason inflation has remained persistent is due to workers making more money. The Bureau of Labor Statistics said that average hourly earnings have increased 4.2% in the 12-month period ending in September. As of August, the consumer price index showed price increases of 3.7%. The Federal Reserve has said its goal is to get inflation down to a normalized rate of 2%. Federal Reserve Chair Jerome Powell said one key to that happening is to get wage growth to subside.
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