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MNI BRIEF: US Sept Jobs Boom, U-Rate Surprises Down To 4.1%

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MNI (WASHINGTON) - U.S. employers added 254,000 jobs in September, many more than the 150,000 analysts had expected, and the unemployment rate ticked down for a second straight month to 4.1%, the Bureau of Labor Statistics said Friday. The strong data alleviate concerns that the labor market is deteriorating quickly and will likely keep the Federal Reserve on track to cut interest rates gradually. 

Payrolls gains in the past two months were also revised higher by 72,000, bringing the three-month moving average to 186,000. Average hourly earnings rose 0.369% in the month, better than the 0.3% expected, and are up 3.969% over the past year. 

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MNI (WASHINGTON) - U.S. employers added 254,000 jobs in September, many more than the 150,000 analysts had expected, and the unemployment rate ticked down for a second straight month to 4.1%, the Bureau of Labor Statistics said Friday. The strong data alleviate concerns that the labor market is deteriorating quickly and will likely keep the Federal Reserve on track to cut interest rates gradually. 

Payrolls gains in the past two months were also revised higher by 72,000, bringing the three-month moving average to 186,000. Average hourly earnings rose 0.369% in the month, better than the 0.3% expected, and are up 3.969% over the past year. 

Keep reading...Show less