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#Employers added 254,000 #jobs in Sept, reflecting a much stronger than expected #labor gains as #election nears.
The #unemployment rate ticked down to 4.1%, acc/to jobs data released Fri by the Labor Dept.
The last 6 months of steady job growth is enough to keep the labor market firmly OUT of #recession territory, economists say, especially as #GDP #growth remains hardy & #consumers continue to spend.
#Bidenomics #policy #finance #economy #VoteBlue #HarrisWalz2024
https://www.washingtonpost.com/business/2024/10/04/september-jobs-unemployment-labor-market/
Economists had been watching to figure out whether the #LaborMarket slowdown was signaling a rebalancing of #labor market dynamics or an impending recession. “This is what one expects at full employment as the #economy expands at a robust level,” said Joe Brusuelas, chief economist at RSM US LLP. “It’s absolutely consistent that firms should slow the pace of hiring at this time,” he added.
The #jobs report arrives just 2 weeks after policymakers at the #FederalReserve reduced interest rates for the first time since 2020, in part due to labor market cooling. That move signaled that the era of painful #inflation has come to a close.
The half-point rate cut, which will lower borrowing #costs, is expected to bring relief to #households & #businesses eager to take out #loans.
Between today’s #jobs report & yesterday’s deal to end the #longshoremen #ILA #strike, things are looking up for the #economy & #KamalaHarris!
[if only by taking away 2 BS talking points from the #RightWing #media & #MAGA folks]