Current:Home > MyThe job market was stunningly strong in September -BeyondProfit Compass
The job market was stunningly strong in September
FinLogic FinLogic Quantitative Think Tank Center View
Date:2025-04-07 07:40:10
The job market is proving to be far stronger than expected.
Hiring unexpectedly surged last month, as U.S. employers added 336,000 jobs, much stronger than the around 170,000 jobs that forecasters had expected.
That's good news for people looking for work but could complicate the Federal Reserve's efforts to curb inflation.
Job gains for July and August were also revised substantially higher. Meanwhile, the unemployment rate last month held steady at 3.8%.
All in all, the data showcases a labor market that continues to defy expectations, with big job gains in health care, hospitality and education.
Factories and construction companies also continued to add workers, despite the strain of high interest rates.
While the tight job market could be worrisome for the Fed, policymakers are likely to be encouraged by the slowdown in wage growth to 4.2% in September from a year ago.
veryGood! (5287)
Related
- Kylie Jenner Shows Off Sweet Notes From Nieces Dream Kardashian & Chicago West
- Charges against South Carolina women's basketball's Ashlyn Watkins dismissed
- Another round of powerful, dry winds to raise wildfire risk across California
- Bernie Marcus, The Home Depot co-founder and billionaire philanthropist, dies at 95
- Intel's stock did something it hasn't done since 2022
- Democratic-backed justices look to defend control of Michigan’s Supreme Court
- Taylor Swift Reunites With Pregnant Brittany Mahomes in Private Suite at Chiefs Game
- NFL power rankings Week 10: How has trade deadline altered league's elite?
- Federal appeals court upholds $14.25 million fine against Exxon for pollution in Texas
- Erik Menendez’s Wife Tammi Menendez Shares Plea for His Release After Resentencing Decision
Ranking
- Highlights from Trump’s interview with Time magazine
- Landmark Washington climate law faces possible repeal by voters
- Is oat milk good for you? Here's how it compares to regular milk.
- Landmark Washington climate law faces possible repeal by voters
- Meta releases AI model to enhance Metaverse experience
- Opinion: 76ers have themselves to blame for Joel Embiid brouhaha
- CFP bracket prediction: LSU rejoins the field, as Clemson falls out and Oregon holds No. 1
- The Sephora Savings Event Is Finally Open to Everyone: Here Are Products I Only Buy When They’re on Sale
Recommendation
Average rate on 30
Which is the biggest dinner-table conversation killer: the election, or money?
Legislature’s majorities and picking a new state attorney general are on the Pennsylvania ballot
Florida Sen. Rick Scott seeks reelection with an eye toward top GOP leadership post
Federal Spending Freeze Could Have Widespread Impact on Environment, Emergency Management
Independent US Sen. Angus King faces 3 challengers in Maine
A pivotal Nevada Senate race is unusually quiet for the battleground state
CFP rankings channel today: How to watch first College Football Playoff poll