Washington – Fresh economic data on Friday brought U.S. President Donald Trump’s Republican Party good and bad news ahead of midterm elections, with the labor market showing strong growth but record-high diesel prices likely to further fuel inflation.
Employment in the United States grew by 162,000 jobs in August, and the unemployment rate remained steady at 4.1%, the U.S. Bureau of Labor Statistics (BLS) said.
The price of diesel — used for road hauling, agriculture and construction — hit a new record on Friday, however. The cost of a gallon of diesel is up 55% since the Iran war began in late February, according to the AAA motorists’ association.
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