The Bureau of Labor statistics released September's jobs report this morning and it showed a surge in job growth. From Reuters:
"U.S. job growth accelerated in September and the unemployment slipped to 4.1%, further reducing the need for the Federal Reserve to maintain large interest rate cuts at its remaining two meetings this year.
Nonfarm payrolls increased by 254,000 jobs last month after rising by an upwardly revised 159,000 in August, the Labor Department's Bureau of Labor Statistics said in its closely watched employment report on Friday. Economists polled by Reuters had forecast payrolls rising by 140,000 positions after advancing by a previously reported 142,000 in August."
It's likely the last monthly jobs report before the November 5 election, and shows the robust nature of the Biden-Harris economy. It's frustrating that the perception of many voters -- especially MAGAts --is that we're in a deep depression. As Moody's Analytics Chief Economist Mark Zandi has stated, with Gross Domestic Product up 3% over the previous year, unemployment down to near 4%, and inflation nearing a 2% low, the reality is, as he said, this is "among the best performing economies" in 35 years. But don't tell MAGAts or their enablers in the media that.
