The U.S. labor market got back on track last month with a larger-than-forecast and broad-based payrolls gain, indicating greater progress filling millions of vacancies as the effects of the Covid-19 delta variant faded.
Non-farm payrolls increased 531,000 last month after large upward revisions to the prior two months, a Labor Department report showed Friday. The unemployment rate fell to 4.6 percent while the labor-force participation rate was unchanged.
Payroll gains last month were led by a 164,000 increase in leisure and hospitality. Professional and business services, transportation and warehousing, and manufacturing also posted significant advances. Hiring at temporary help services rose the most since February, indicating companies are having success luring workers for the holiday-shopping season.
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