Nonfarm payrolls increased by 943,000 for the month while the unemployment rate dropped to 5.4%, according to the Labor Department’s Bureau of Labor Statistics. The payroll increase was the best since August 2020.
Economists surveyed by Dow Jones had been looking for 845,000 new jobs and a headline unemployment rate of 5.7%. However, estimates were diverse amid conflicting headwinds and tailwinds and an uncertain path ahead for the economy.
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