US Jobs Growth Strong but Slowing amid Inflation Fears
The growth of jobs in the US is still solid, but at a slowing pace, despite high prices and increasing borrowing costs' weight on the economy.
The US Labor Department said that last month, employers added 261,000 jobs, while the unemployment rate increased slightly to 3.7%.
The news comes as the economy is still a main concern for voters ahead of the midterm elections. Rising costs also remain a huge aspect that hits public confidence.
Prices are on a rise not seen since the early 1980s, with inflation currently up at 8.2%.
The issue is having a tremendous impact on Democrats, who were already struggling to maintain hold of Congress.
Beth Ann Bovino, chief US economist at S&P Global Ratings said: