Employment Rose by 254,000 Jobs in September

Washington, DC, October 4, 2024-Total nonfarm payroll employment increased by 254,000 in September, and the unemployment rate changed little at 4.1%, the U.S. Bureau of Labor Statistics reported. 

Employment continued to trend up in food services and drinking places, healthcare, government, social assistance, and construction.  

“The pace of hiring picked up strongly in September and the unemployment rate ticked down to 4.1%, signs the U.S. economy had continued momentum in a month the Federal Reserve delivered its first interest-rate cut in four years,” reports the Wall Street Journal.

“The numbers beat expectations from economists surveyed by The Wall Street Journal. They expected payrolls to increase by 150,000 in September, and the unemployment rate to hold at 4.2%.

“‘The American labor market remains solid,’ said RSM U.S. chief economist Joe Brusuelas. ‘This has got to do with fundamental underlying demand out in the economy as job growth continues and wages are increasing.’

“Revised figures show employers added 72,000 more jobs in July and August combined than earlier reported.”