US News Today (News21USA): The United States added a whopping 336,000 jobs in September and the unemployment rate remained flat at 3.8 percent, according to data released Friday by the Department of Labor.
The September jobs report far exceeded expectations after several months of slowing job growth.
Economists projected that the United States would have created 170,000 jobs last month, according to consensus estimates, and would have reduced the unemployment rate to 3.7 percent. In contrast, the United States added almost double that figure without making a dent in the unemployment rate.
The United States also added 119,000 more jobs than previously reported in July and August, according to revisions released by the Labor Department on Friday.
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September’s surprisingly strong jobs report came after several months of contracting job growth, rising unemployment and other signs of an economic slowdown.
While September’s job gain may be good news for Americans fearing a recession, it poses a new challenge for the Federal Reserve as it charts the next steps in its battle against inflation.