The pace of US jobs growth is expected to rebound sharply in September data after an extremely weak report the previous month, setting the stage for the Federal Reserve to begin scaling back its enormous pandemic-related monetary stimulus.
According to a consensus forecast compiled by Bloomberg, employers in the world’s largest economy are expected to add 500,000 jobs in September, exceeding the disappointing 235,000 gains posted in August as the alarming spread of the Delta coronavirus variant deterred people from returning to the workforce and business activity slowed.
Childcare issues improved notably last month as children headed back to school, adding momentum to the labour market recovery.
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