US economy added a whopping 254,000 jobs last month
CNN
Economists had projected the US added 140,000 jobs in September and the unemployment rate held steady at 4.2%.
•The US economy added 254,000 jobs last month and the unemployment rate dropped to 4.1%. •That’s a huge boost for a labor market that has shown signs of weakness. •Economists had projected 140,000 jobs were added in September and that the unemployment rate held steady at 4.2%. •The jobs report has moved back into the spotlight now that the Federal Reserve has all but declared victory on inflation and is focused on keeping the labor market healthy. When looking at the monthly jobs report, it’s important to keep in mind that data is volatile, it is fluid, and it will be revised as more comprehensive information becomes available. “It’s difficult to get an accurate first-time read on the labor market, so we always want to have some healthy skepticism,” Josh Hirt, senior US economist at Vanguard, told CNN on Friday. “It is very common that these do get revised.”
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