Summary
The revision of job figures for July and August revealed an additional 77,000 jobs added to the U.S. economy, indicating stronger-than-expected employment growth. This adjustment contributed to a more favorable outlook for the labor market as the economy added 255,000 jobs in September, lowering the unemployment rate to 4.1%.
In the context of the recent jobs report, the upward revisions for July and August were significant, with July’s figures adjusted to show 55,000 more jobs and August’s figures increased by 17,000. These adjustments not only highlight the resilience of the labor market but also alleviate concerns about economic slowdown. The robust job creation, combined with rising wages—average hourly earnings increased by 0.4% in September—suggests that the economy is maintaining its strength despite the impact of high interest rates, which had previously been implemented to combat inflation. The favorable job growth may influence the Federal Reserve’s approach to interest rate adjustments in the coming months.
U.S. job creation totaled 254,000 in September, much better than expected
Oct. 4 / Cnbc / Highlights the strong job creation in September, with robust revisions for previous months, and provides valuable context on wage growth, making it a comprehensive snapshot of the labor market's health. “ The U.S. economy added far more jobs than expected in September, pointing to a vital employment picture as the unemployment rate edged lower, the Labor...
Robust hiring highlights surprising September US jobs report
Oct. 4 / Abc 15 / Offers a broader historical perspective on job gains and wage increases, emphasizing the resilience of hiring despite high interest rates, which adds depth to the understanding of current economic conditions. “ The U.S. economy added 255,000 jobs during the month of September, helping lower the nation's unemployment rate to 4.1% in a surprisingly strong jobs report...