The U.S. economy added a robust 254,000 jobs in September and the unemployment rate changed little at 4.1%.
The number of new jobs was much higher than was anticipated.
The U.S. Bureau of Labor Statistics released Friday Morning said that employment continued to rent up in food services and drinking places, health care, government, social assistance and construction.
The number of unemployed people, at 6.8 million, changed little in September, according to the report.
In September, the labor force participation rate was 62.7 percent for the third consecutive
month, and the employment-population ratio was little changed at 60.2 percent. Both measures
changed little over the year.
The report found little impact from Hurricane Francine, which hit Louisiana on September 11, 2024. The impact from Hurricane Helene won't be felt until next month's report.
In September, average hourly earnings for all employees on private nonfarm payrolls increased
by 13 cents, or 0.4 percent, to $35.36. The Labor Department says average hourly earnings have increased by 4.0 percent. That is higher than the inflation rate.
The strength of the economy could slow the rate of interest rate cuts by the Federal Reserve.
