Rising unemployment, living costs in US

The US Labor Department's report indicates the employment downturn coincides with the annual inflation rate reaching its highest level since January, highlighting potential economic pressures affecting the labor market.

unemployment US inflation

According to a report by the US Labor Department, the jobless rate hit 4.4 percent in September. The transportation and warehousing industry has lost more than 25,000 jobs, while manufacturing shed a further 6,000 positions.

The report comes as the annual inflation rate in September showed the highest since January.