US September jobs report: Booming labor market dispels recession fears
Good news came to the US labor market on Friday, October 4, when the number of new jobs in September increased dramatically, smashing all predictions of economic experts. This shows that the world's largest economy is still on the path of strong recovery despite concerns of recession.
Specifically, according to the latest report from the US Department of Labor, the economy created 254,000 more jobs in September. This number is much higher than economists' predictions of 150,000 jobs, and shows a strong recovery after two months of slow growth in the summer.
Not only that, the unemployment rate also fell to 4.1%, lower than the forecast of 4.2% and the actual level in August. This is a positive signal that the labor market is gradually rebalancing.
