US economy adds 254,000 jobs in September, above forecasts

By Emir Yildirim

ISTANBUL (AA) – The US economy added 254,000 jobs in September, exceeding market estimates, according to official figures released by the Bureau of Labor Statistics on Friday.

The figure, well above the expected gain of 140,000, marks the strongest job growth in six months, the data showed.

Job additions for August were revised upward by 17,000, from 142,000 to 159,000, according to the US statistical agency.

The unemployment rate fell to a three-month low of 4.1% in September, down from 4.2% in August, surpassing market expectations, which had predicted no change.

The number of unemployed people dropped to 6.8 million in September from 7.1 million in August, while the labor force participation rate remained steady at 62.7% for the third consecutive month.

Meanwhile, the employment-to-population ratio rose to 60.2% in September, up from 60% in August.

The number of people not in the labor force but currently wanting a job slightly increased to 5.7 million in September, compared to 5.6 million in August.

“These individuals were not counted as unemployed because they were not actively looking for work during the four weeks preceding the survey or were unavailable to take a job,” said the Bureau of Labor Statistics.

In September, employment in food services and drinking places saw the highest increase, by 69,000, quite above the average 14,000 monthly gain over the last 12 months. This figure was followed by healthcare with 45,000, and employment in government by 31,000.

The average hourly earnings for all employees on non-farm payrolls rose 0.4% to $35.36 in September compared to August, with an annual increase of 4%.