U.S. Generates 336,000 Jobs in September

In September, the United States saw a significant increase in employment, marking the most substantial growth in eight months.

Some economists suggested that the surge in September payrolls might have been influenced by challenges in adjusting the data for the return of education workers after the summer break. I Photo: General Motors Facebook

This strong hiring trend indicates the enduring strength of the labor market, which may provide the Federal Reserve with justification to raise interest rates again. However, it's worth noting that wage growth is slowing, according to a report by Lucia Mutikani for Reuters.

Nonfarm payrolls increased by 336,000 jobs last month, which is the largest rise since January.

Additionally, the economy created 119,000 more jobs than previously reported for July and August. These payroll gains exceeded the expectations of economists in a Reuters poll, who had forecast 170,000 new jobs.

To keep up with the growth in the working-age population, the economy typically needs to create around 100,000 jobs per month.

Some economists suggested that the surge in September payrolls might have been influenced by challenges in adjusting the data for the return of education workers after the summer break.

However, this notion was mostly dismissed, especially since private payrolls saw an increase of 263,000 jobs.

Chris Low, chief economist at FHN Financial in New York, commented on the situation, saying, "The surge in teachers hired in September cannot belie the strength in payrolls now stretching back to July thanks to the biggest upward revisions to payrolls in a long time."

The growth in payrolls was widespread, with the leisure and hospitality industry leading the way by adding 96,000 jobs. The restaurant and bar sector contributed significantly to this increase, creating 61,000 positions, which brought employment in the sector back to its pre-pandemic level.

WEEKLY FEATURE : Jose Mari Chan And The Christmas Anthem