U.S. Job Growth Shows Letup In Pace

Although job growth continues in the U.S., there is a dip in pace as rising prices and higher borrowing costs have put the economy in a spot of bother.

The U.S. Labor Department, in its recent report, noted that employers added 261,000 jobs in October, while the unemployment rate rose slightly to 3.7%.

The news comes as the economy remains a top concern for voters ahead of the midterm elections.

Despite a strong labor market, soaring costs have taken a toll on public confidence.

Consumer prices are rising at a pace not seen since the early 1980s.

Inflation, which measures how the cost-of-living changes over time, is up 8.2% over the past 12 months to September.

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Edited by Jesus Chan

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