September jobs report crushes expectations as US economy adds 254,000 jobs, unemployment rate falls to 4.1%

Published On Oct 4, 2024, 8:37 AM

In September, the U.S. economy added 254,000 jobs, significantly surpassing the expected 150,000, and the unemployment rate improved to 4.1% from 4.2% in August. Wage growth rose 4% year-over-year, indicating steady inflation pressures. The labor force participation rate held steady at 62.7%. This data strengthens the picture of a resilient labor market, which could influence the Federal Reserve's decisions regarding interest rates.