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Fed seen skipping October rate hike as job market cools
Federal Reserve policymakers on Friday got more reason to wait before raising interest rates again, as government data showed the labor market is cooling more than expected. US employers added just 29,000 jobs last month, the Labor Department reported, less than the 90,000 economists had expected. August payroll gains were revised downward. The unemployment rate ticked up to 4.2%, from 4.1%. The Fed raised short-term borrowing costs by a quarter of a percentage point last month to help get inflation back on track to 2%. Policymakers signaled they will likely deliver another rate hike by year’s...
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