US adds a robust 254,000 jobs and unemployment dips to in sign of still-sturdy labor market

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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.

FILE – An employee scans incoming items at a receiving station at the Amazon OXR1 fulfillment center in Oxnard, Calif., on Aug. 21, 2024. WASHINGTON — 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

The September job gains were fairly broad-based, a good trend if it continues. Restaurants and bars added 69,000 jobs. Healthcare companies gained 45,000, government agencies 31,000, social assistance employers 27,000 and construction companies 25,000. A category that includes professional and business services added 17,000 after having lost jobs for three straight months.

Most economists say the Fed appears to have achieved the once-unlikely prospect of a “soft landing,” in which high interest rates help vanquish inflation without triggering a recession. Across the economy, though, most indicators look solid. The U.S. economy, the world’s largest, grew at a vigorous 3% annual pace from April through June, boosted by consumer spending and business investment. A forecasting tool from the Federal Reserve Bank of Atlanta points to slower but still healthy 2.5% annual growth in the just-ended July-September quarter.

“I can teach you how to manage a restaurant, but I can’t teach you how to care,” said Brady, whose restaurants employ between 100 and 150 workers.

 

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159 employees leave WordPress founder's company after extortion lawsuitMariella Moon has been a night editor for Engadget since 2013, covering everything from consumer technology and video games to strange little robots that could operate on the human body from the inside one day. She has a special affinity for space, its technologies and its mysteries, though, and has interviewed astronauts for Engadget.
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