THE AMERICA ONE NEWS
May 30, 2025  |  
0
 | Remer,MN
Sponsor:  QWIKET 
Sponsor:  QWIKET 
Sponsor:  QWIKET: Elevate your fantasy game! Interactive Sports Knowledge.
Sponsor:  QWIKET: Elevate your fantasy game! Interactive Sports Knowledge and Reasoning Support for Fantasy Sports and Betting Enthusiasts.
back  
topic
NYTimes
New York Times
4 Oct 2024
Talmon Joseph Smith


NextImg:Labor Market Shows Unexpected Strength

Many have doubted it. Even the optimists have worried about it. But despite the hand-wringing, the American economy appears to be in remarkably good shape.

Businesses added 254,000 jobs in September, the government reported on Friday, far surpassing forecasts. It was a sign that the economy, rather than stumbling into a slowdown, still has a spring in its step.

The unemployment rate declined to 4.1 percent, from 4.2 percent. Reported pay gains for workers were also better than expected, at 4 percent over the previous 12 months, an uptick from the August reading. With inflation continuing to ease substantially, that is welcome news for households trying to gain financial traction.

The impressive job gains, across several industries, followed several months of slower hiring. And the previous two monthly reports were revised upward. For now, the data has all but erased analysts’ concerns, based on historical trends, that the “hard landing” of a recession could be looming in the near future.

“I actually think we are in the mother of all soft landings,” said Diane Swonk, the chief economist at the accounting firm KPMG, who had been among the prominent worriers.


Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.


Thank you for your patience while we verify access.

Already a subscriber? Log in.

Want all of The Times? Subscribe.