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Friday, October 6, 2023

The Daily Money: The U.S. added 336,000 jobs last month

The labor market is surging, with the U.S. adding 336,000 jobs last month, the biggest uptick since January.

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The Daily Money

ALL THE MONEY NEWS YOU NEED TO KNOW

Fri Oct 6 2023

 

Charisse Jones Economic Opportunity Reporter

It's Friday, and if you're in California, whew, is it hot. But whether you're hunting for shade or sheltering from the rain back east, it's Charisse Jones with the Money headlines to keep you in the know over the weekend.

The labor market is surging. U.S. employers added 336,000 jobs last month, defying high inflation and interest rates.

It was the biggest jobs spurt since January. Meanwhile, more jobs than previously believed were also added in July and August, with the numbers revised up by 119,000 positions over those two months.

But all that good news is tempered by the fact that strong job numbers may lead the Federal Reserve to implement another interest rate hike to cool the economy and curb inflation, says economist Rubeela Farooqi of High Frequency Economics.

First eggs, now Girl Scout cookies

It's not just groceries that are getting more expensive. So are Thin Mints and Samoas.

Yep, that's right.  Inflation is also affecting the price of Girl Scout cookies.

Costs for the treats, whose sales are a beloved annual tradition, will be $5 to $7 a box next year. The 111 Girl Scout councils set their own prices so exact prices will vary.

The Girl Scouts sell roughly 200 million boxes of cookies a year, bringing in almost $800 million.

Ap Unemployment Benefits F Usa Pa

File - A help wanted sign is posted in Lansdale, Pa., Friday, April 28, 2023. On Thursday, the Labor Department reports on the number of people who applied for unemployment benefits last week. (AP Photo/Matt Rourke, File) ORG XMIT: NYPM405

Matt Rourke, AP

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