Economy Beats Expectations, Adds 336,000 Jobs in September
Summary from the AllSides News Team
The U.S. economy added 336,000 jobs in September, over 100,000 more than it added in August, according to the Bureau of Labor Statistics.
The Details: Economists were expecting roughly 170,000 jobs added. The unemployment rate and labor force participation rate held steady at 3.8% and 62.8%, respectively. Industries that posted the biggest job gains were leisure and hospitality (96,000 jobs added), healthcare (73,000), and professional services (29,000).
For Context: Monthly job reports are getting added attention as the Federal Reserve continues efforts to lower inflation by raising interest rates.
How the Media Covered it: Sources across the spectrum framed the growth as surprisingly positive. Some, like CNN Business (Lean Left bias), noted how the data may be bad news for consumers because a "still-robust job market means the central bank could continue to increase rates without fear of sending the economy into a recession."
Featured Coverage of this Story
From the Center
Hiring Accelerated With 336,000 Jobs Added Last Month
U.S. hiring surged last month, the latest sign of a resilient U.S. economy that has contributed to the recent bond-market rout.
Employers added 336,000 jobs in September, the strongest gain since January and up sharply from the prior month’s upwardly revised 227,000 gain, the Labor Department said Friday. Accelerating job growth has signaled an economic rebound in recent months, after the labor market slowed in the first half of the year.
The unemployment rate held steady at 3.8% last month. Employers raised pay at a solid pace as they competed for a limited pool of workers....
From the Left
US employers added a surprisingly strong 336,000 jobs in September in a sign of economic resilience
The nation’s employers added 336,000 jobs in September, an unexpectedly robust gain that suggests that many companies remain confident enough to keep hiring despite high interest rates and a hazy outlook for the economy.
Hiring last month jumped from a 227,000 increase in August, which was revised sharply higher. July’s gain was also healthier than had been initially estimated. The economy has now added an average of 266,000 jobs a month in the past three months. The sustained strength of the labor market makes it likelier that the Federal Reserve will raise its...
From the Right
US economy adds 336,000 jobs in September, blowing past expectations
U.S. job growth unexpectedly accelerated in September, defying fears of a slowdown in hiring even as the labor market confronts the twin threats of sticky inflation and high interest rates.
Employers added 336,000 jobs in September, the Labor Department said in its monthly payroll report released Friday, nearly double the 170,000 jobs forecast by Refinitiv economists. It marked the best month for job creation since January.
The unemployment rate, meanwhile, held steady at 3.8%.
"The jump in employment, the extremely low level of unemployment claims, and the rise in job openings keep alive...
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