Hiring in the US picked up significantly more than expected in September, while the jobless rate crept lower, according to government data released on Oct. 4, offering relief to policymakers ahead of November's election.
The world's biggest economy added 254,000 jobs in September, the Department of Labour said. This was markedly higher than August's 159,000 figure, which was also revised upwards.
A consensus estimate by Dow Jones had expected growth of 150,000.
The unemployment rate dipped from 4.2 per cent to 4.1 per cent, the report added.
The health of the job market has come into focus over recent months as high interest rates bite - but the pickup in hiring should assuage concerns that the Federal Reserve waited too long to slash rates in September, risking a downturn.
This story is from the October 05, 2024 edition of The Straits Times.
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This story is from the October 05, 2024 edition of The Straits Times.
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