US adds a robust 254,000 jobs and unemployment dips to 4.1% in sign of still-sturdy labor market
America’s employers added a surprisingly strong 254,000 jobs in September, easing concerns about a weakening labor market and suggesting that the pace of hiring is still solid enough to support a growing economy
WASHINGTON (AP) — America’s employers added a surprisingly strong 254,000 jobs in September, easing concerns about a weakening labor market and suggesting that the pace of hiring is still solid enough to support a growing economy.
Last month’s gain was far more than economists had expected, and it was up sharply from the 159,000 jobs that were added in August. And after rising for most of 2024, the unemployment rate dropped for a second straight month, from 4.2% in August to 4.1% in September, the Labor Department said Friday.
The latest figures suggest that many companies are still confident enough to fill jobs despite the continued pressure of high interest rates.
In an encouraging sign, the Labor Department also revised up its estimate of job growth in July and August by a combined 72,000. Including those revisions, September's job gain — forecasters had predicted only around 140,000 — means that job growth has averaged a solid 186,000 over the past three months. In August, the three-month average was only 140,000.
