Hiring slows
Data out during the week showed a potential surge in employment for the US, but fears that the economy may be significantly overheating again were somewhat allayed when the Bureau of Labor Statistics released its monthly update.
Gains for employment were the lowest since 2½ years ago.
Source: BLS
There were also net revisions of -110,000 to the two preceding months, so overall the figures were softer than expected.
Average hourly earnings increased by a stronger than expected 4.4 per cent over the year, and the labor force does remain tight, however, so the Federal Reserve will likely have further work to do to slow the economy and inflation.
