The U.S. economy added a remarkable 254,000 jobs in September, significantly exceeding economists’ expectations of 140,000.
Revisions for July and August indicated an extra 72,000 jobs were added in those months, suggesting earlier signs of weakness may not have been as pronounced as initially thought.
The unemployment rate also fell to 4.1 percent last month, alleviating worries about rising joblessness.
This positive jobs report comes as inflation moves closer to the Federal Reserve’s 2 percent target. After peaking in June 2022, inflation has eased significantly dropping 7 percent, to 2.5 percent in August.
These encouraging figures, coupled with upward revisions from previous months, paint an optimistic picture for the U.S. economy. The Biden-Harris administration's dedication to cultivating a stable and prosperous economy, while actively supporting American workers, is clearly evident.