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.
2025-01-13 18:031964 view
2025-01-13 17:312590 view
2025-01-13 17:261837 view
2025-01-13 17:092559 view
2025-01-13 16:10899 view
2025-01-13 15:55889 view
"Vanderpump Rules" star James Kennedy has been arrested for domestic violence.In a statement to USA
Future Hall of Famer Tom Brady has made his highly-anticipated debut... in the broadcasting booth th
The Powerball jackpot has risen to $112 million for Saturday night's drawing after no one won the ja