Bureau of Labor Statistics monthly employment report

U.S. Economy Adds 254,000 Jobs in September, Unemployment Falls to 4.1%, Wage Growth Rises

Oct 4, 2024, 12:40 PM

The U.S. economy added 254,000 jobs in September, significantly surpassing expectations of 150,000. The unemployment rate fell to 4.1%, below the anticipated 4.2%. This robust job growth, accompanied by a 0.4% increase in average hourly earnings, suggests a resilient labor market. Economists had forecasted a moderate job growth with steady unemployment, but the actual figures indicate a stronger-than-expected performance. The data also includes upward revisions for the previous two months, adding 72,000 jobs. This strong employment report, covered by Reuters and MarketWatch, may influence the Federal Reserve's strategy on future interest rate cuts.