Employment Report: 254K Jobs Added In September, Well Above Expectations

Summary

• The latest employment report showed 254,000 jobs were added in September, well above forecasts of the expected addition of 147,000 new jobs.
• The current unemployment rate of 4.05% is above the latest 12-month moving average of 3.92%.
• The first wave of boomers will continue to be a downward force on this ratio.
• The U6 series is currently at 8.1%, up from 7.9% the previous month and the highest level since December 2022.

Klaus Vedfelt

The latest employment report showed 254,000 jobs were added in September, well above forecasts of the expected addition of 147,000 new jobs. Meanwhile, the unemployment rate ticked lower to 4.1%.

Here is an excerpt from the Employment Situation