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submitted 1 year ago* (last edited 1 year ago) by MicroWave@lemmy.world to c/news@lemmy.world

The US workforce added 336,000 jobs last month, much more than expected, as the world’s largest economy remained resilient in the face of higher interest rates.

The sharp acceleration in hiring saw non-farm payrolls rise during September by almost twice as much as economists had anticipated. Readings for July and August were also revised higher, with 236,000 and 227,000 jobs added, respectively.

Employment growth had been fading in recent months, according to official data, but remained largely resilient while the Federal Reserve battled to get inflation under control. This bolstered hopes that the central bank will manage to guide the US economy to a so-called “soft landing”, where price growth normalizes and recession is avoided.


[UPDATE] Links to the actual report in case you want to read it:

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[-] robocall@lemmy.world 14 points 1 year ago

I wonder how many of those jobs are full time with benefits vs three 6 hour shifts a week, without benefits, dead end jobs.

[-] speff@disc.0x-ia.moe 17 points 1 year ago

Relevant section in the govt report -

The number of persons employed part time for economic reasons, at 4.1 million, changed little in September. These individuals, who would have preferred full-time employment, were working part time because their hours had been reduced or they were unable to find full-time jobs. (See table A-8.)

A-8 seems to indicate the number of part-time jobs for economic reasons actually went down by about 100k, which seems pretty good.

[-] KLISHDFSDF@lemmy.ml 7 points 1 year ago

appreciate you doing the legwork for us 🌟

this post was submitted on 06 Oct 2023
63 points (95.7% liked)

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