September Jobs Report Shatters Expectations

CNBC reports:

Job growth was stronger than expected in September, a sign that the U.S. economy is hanging tough despite higher interest rates, labor strife and dysfunction in Washington.

Nonfarm payrolls increased by 336,000 for the month, better than the Dow Jones consensus estimate for 170,000, the Labor Department said Friday in a much-anticipated report. The unemployment rate was 3.8%, compared to the forecast for 3.7%.

From a sector perspective, leisure and hospitality led with 96,000 new jobs. Other gainers included government (73,000), health care (41,000) and professional, scientific and technical services (29,000).

Read the full article.

Bidenomics is working!! Payrolls increased by 336,000 in September, much more than expected https://t.co/a7JihlfTIZ

— (((DeanObeidallah))) (@DeanObeidallah) October 6, 2023

September jobs report crushes expectations:
Nonfarm payrolls: +336K vs +170K expected
Unemployment rate: 3.8% vs. 3.7% expected
Avg. hourly earnings MoM: +0.2% vs +0.3% expected
Avg. hourly earnings YoY: +4.2% vs +4.3% expected
Avg. weekly hours worked: 34.4 vs 34.4 expected pic.twitter.com/MHY1egQNnF

— Yahoo Finance (@YahooFinance) October 6, 2023

Breaking: Hiring accelerated sharply last month as employers added 336,000 jobs, the biggest gain since January. The unemployment rate held steady at 3.8%. https://t.co/MKOMtbptqYhttps://t.co/MKOMtbptqY

— The Wall Street Journal (@WSJ) October 6, 2023