A set of recent economic data brought U.S. President Donald Trump and his Republican Party some good and bad news ahead of the midterm elections, with the labor market posting strong growth, but record-high diesel prices likely to add more pressure on the inflation outlook.
Employment in the U.S. 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.
But the price of diesel, used for road hauling, agriculture and construction also hit a new record on Friday.
The cost of a gallon of diesel is up 55% 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 next interest rate-setting meeting by the Federal Reserve (Fed) later this month.
