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If the unemployment rate keeps falling, investors should brace for a faster pace of interest-rate increases
What could possibly cool this job market? Oh, right, the Federal Reserve.
Companies’ struggle to find workers got harder last month. Even though job growth slowed—likely because Hurricane Florence sidelined some workers—the unemployment rate slipped to 3.7% in September from August’s 3.9%. That was the lowest level since the late 1960s, and even though the U.S. labor market is a lot different now, it is worth taking a look back at what was going on then.