US jobs creation surges unexpectedly in September

Published On Oct 4, 2024, 8:43 AM

In September, the US labor market saw an unexpected surge in job creation, with employers adding 254,000 jobs, surpassing analysts' predictions of around 150,000. The unemployment rate also declined slightly from 4.2% to 4.1%. This report suggests economic resilience, leading to concerns that the Federal Reserve may reassess its recent plans to lower interest rates after cutting them by 0.5 percentage points previously. The sectors leading the job growth included bars and restaurants, indicating a recovery in consumer-facing businesses.

Read full article

Stock Forecasts

MCDView MCD chart on TradingView

Positive

Given the stronger-than-expected jobs report and the potential for the Federal Reserve to reconsider its interest rate strategy, sectors related to consumer discretionary spending could see positive movement. Companies like McDonald's (MCD), which thrive in a robust labor market as consumers have more disposable income, may benefit.

Related News

McDonald's sues several meat packing companies, claims they colluded to inflate beef prices

Oct 9, 2024, 5:54 AM

McDonald's filed a lawsuit against multiple meat companies over allegations they conspired to inflate the price of beef specifically.

TSN
MCD

US jobs creation surges unexpectedly in September

Oct 4, 2024, 8:43 AM

The jump in hiring will ease fears of a downturn but raises questions over the path for interest rates.

MCD

McDonald’s and supermarkets failed to spot slavery

Sep 29, 2024, 7:03 PM

Red flags went undetected as victims worked at a restaurant and a supermarket supplier, BBC finds.

MCD