Posted on 10/04/2024 8:58:02 AM PDT by thegagline
U.S. job gains increased by the most in six months in September and the unemployment rate fell to 4.1%, pointing to a resilient economy that likely does not need the Federal Reserve to deliver large interest rate cuts***
In addition to the better-than expected increase in nonfarm payrolls reported by the Labor Department on Friday, wages rose at a solid pace last month. The closely watched employment report also showed the economy added 72,000 more jobs in July and August than previously estimated. The report followed on the heels of annual benchmark revisions to national accounts data last week that showed the economy is in much better shape than previously estimated, with upgrades to growth, income, savings and corporate profits.
This improved economic backdrop was acknowledged by Fed Chair Jerome Powell this week when he pushed back against investors' expectations for another half-percentage-point rate cut in November, saying "this is not a (policy-setting) committee that feels like it is in a hurry to cut rates quickly." "This solid report increases the odds that the economy will continue to grow above trend in the next quarter," said Jeffrey Roach, chief economist at LPL Financial. "Our base case is the Fed will cut by a quarter point at the next few meetings."
Nonfarm payrolls increased by 254,000 jobs last month, the most since March, the Labor Department's Bureau of Labor Statistics said. Economists polled by Reuters had forecast payrolls would rise by 140,000 positions after advancing by a previously reported 142,000 in August.
The initial payrolls count for August has typically been revised higher over the past decade. Estimates for September's job gain ranged from 70,000 to 220,000. Job growth is now above the monthly average gain of 203,000 in the past 12 months. ***
(Excerpt) Read more at reuters.com ...
*(this statement is meant for everyone except those living in California where free speech and parody are banned)
Trust our statistics ... riiiiight
Amen !
This is a Reuters Bullcrap posting— this is a complete and utter lie— Year on Year employment comparison is NOT done— just a lying statement (seasonal employment part time being lumped in with real full time employment). It is a Lie.
These numbers may be revised in a downward manner next month...
Sure.
Hahahahahahahahaha!
The “official” unemployment rate is low enough for the Fed to keep cutting rates, which makes inflation worse.
Government Stats? ROTFL! Gotta get the Hoodoo elected.
cough bs cough
Guess we should all vote for Kamala. She of the opportunity society where we can all grow up middle class.
More here:
https://freerepublic.com/focus/f-news/4268859/posts
Until they revise the numbers in two weeks or so. Besides, these numbers from BLS have always been BS.
Yep
Yes, revised AFTER the election.
I don’t believe anything from the government. Millions of voters feel the same way.
Are these part time, second jobs, moving to a new job, minimum wage jobs, government jobs?? You need some added stats for a reality check.
Let more migrants in everything’s OK! S
just before the election, how convenient.
Right before an election? Sure.
Somebody should do a meme of Charlie Brown and Lucy with the football, showing all the times they’ve given fake statistics only to revise them after they got their needed sound-bites.
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