Fresh economic data on Friday brought United States 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 percent, the US Bureau of Labor Statistics (BLS) said.
But the price of diesel -- used for road hauling, agriculture and construction -- hit a new record Friday. The cost of a gallon of diesel is up 55 percent since the Iran war began in late February, according to the AAA motorists' association.
Stock markets were down on the employment figures, with all eyes on the US Federal Reserve's next interest rate-setting meeting later this month.
Strong job growth indicates a healthy labor market, which would allow the central bank to focus on its other mandate: keeping long-term inflation to its two-percent target, potentially by hiking interest rates.
The Fed has missed that target for more than five years, with consumer inflation running at 3.3 percent in July. August data is due next week.
