The U.S. added 254,000 jobs in September, almost double that of economists' expectations. The unemployment rate dipped to slightly above 4%. Strong hiring momentum suggests the Federal Reserve may opt for a smaller rate cut of twenty-five basis points at its upcoming November meeting. Experts noted this job growth aligns with a potential soft landing for the economy, and stocks rose following the data. Wage growth reached 4% annually, outpacing inflation, which economists estimate fell to 2.3%.
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00:00It's Benzinga, and here's what's on the block.
00:02The U.S. added 254,000 jobs in September, almost double Wall Street's expectations.
00:09The unemployment rate dipped to slightly above 4%.
00:12Strong hiring momentum suggests the Federal Reserve may opt for a smaller rate cut of
00:1625 basis points at its upcoming November meeting.
00:20Experts noted this job growth aligns with a potential soft landing for the economy,
00:24and stocks rose following the data.
00:26Age growth reached 4% annually, outpacing inflation, which economists estimate fell
00:31to 2.3%.
00:32For all things money, visit Benzinga.com.