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U.S. jobs growth rises moderately; unemployment rate falls to 3.5%
U.S. job growth increased moderately in September, with the unemployment rate dropping to near a 50-year low of 3.5%, which could assuage financial market concerns that the slowing economy was on the brink of a recession amid lingering trade tensions. The Labor Department’s closely watched monthly employment report on Friday, however, showed monthly wage growth was unchanged and manufacturing payrolls declined for the first time in six months, and the retail sector continued to shed jobs. The report came on the heels of a string of weak economic reports, including a plunge in manufacturing activity to more than a ... (full story)