Labor market soars past expectations in September with added jobs and lower unemployment

  • 📰 KUTV2News
  • ⏱ Reading Time:
  • 40 sec. here
  • 9 min. at publisher
  • 📊 Quality Score:
  • News: 43%
  • Publisher: 63%

Labor Market News

Unemployment,Jobs Report,Federal Reserve

The U.S. labor market blew past expectations in September as the pace of hiring accelerated and unemployment moved downward.

Sinclair teamed up with Salvation Army to provide critical relief to communities picking up the pieces left behind by Hurricane Helene.The U.S. labor market blew past expectations in September as the pace of hiring accelerated and unemployment moved downward, which came at the same time the Federal Reserve lowered its benchmark interest rate to help bolster the economy with inflation returning to normal levels.

Some economists thought this month’s jobs report will receive greater emphasis from the Fed before their meeting in early November, where governors will make another decision on interest rates. Another jobs report will be released in October but the data is likely to be skewed by Hurricane Helene’s destruction across the South and a labor strike at Boeing, making it harder for the central bank to make big takeaways from the employment situation overall.

Hourly earnings for workers also improved last month, helping bolster purchasing power as prices still remain significantly higher than they were pre-pandemic despite moderating levels of inflation. Average hourly wages grew 4% compared to last year and 0.4% from August, which also beat economists’ expectations.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 281. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

NFP September data to test state of cooling US labor marketThe high-impact Nonfarm Payrolls (NFP) data from the United States (US) for September will be published by the Bureau of Labor Statistics (BLS) on Friday at 12:30 GMT.
Source: FXStreetNews - 🏆 14. / 72 Read more »