US Job Growth Slows but Stocks Rise
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The United States added far fewer jobs in September than experts expected, but stock prices in the country still went up. According to the US Labour Department, only 29,000 new jobs were created in September. Economists thought there would be about 90,000 new jobs. The government also said that job numbers from July and August were too high, and fewer jobs were actually added.
The main reason for this weak job growth was that American businesses were worried about the future. When companies are unsure, they often do not hire many new people. This can happen when they think the economy will be slower soon, or if they want to save money.
Because job growth was weak, many investors believed that the US central bank, called the Federal Reserve, would not raise interest rates at its next meeting. Lower interest rates make it cheaper to borrow money. This hope led traders to buy more shares, which made stock prices go up after the job report.
Vocabulary
6 wordspeople who put money into something profitable
people who buy and sell financial assets
equal parts of a company's total capital
people who study how money is managed
an official document containing detailed business information
the group of people managing a country
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9 questionsHow many new jobs were actually created in the US in September?
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