U.S. employers added 254,000 jobs and the unemployment rate ticked down to 4.1 percent in September, signaling signs of strength in the labor market heading into the height of the election season.
The last several months of steady job growth have been plenty enough to keep the American labor market firmly out of recession territory, economists say, especially as GDP growth remains hardy, productivity is strong and consumers continue to spend.
In September, the service sector industry recorded a surge in hiring, according to the report by the Bureau of Labor Statistics (BLS). But job gains across most sectors added more evidence that the Federal Reserve can stay on track with gradual lowering of interest rates to ensure inflation does not rear back up.
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