Worker, hiring, jobs

An unforeseen burst of hiring last month has lifted hopes that the economy will prove durable once again, even as an array of threats lie ahead. Businesses across the U.S. economy ramped up their hiring in September, defying surging interest rates, financial market turmoil, the ongoing threat of a government shutdown and an uncertain outlook to add the most jobs in any month since January. The hiring binge confounded expectations for a slowdown and added one more layer of complexity to the Federal Reserve's high-wire effort to defeat inflation without causing a recession. The 336,000 jobs that were added in September raised the average gain for the past three months to a robust 266,000.

America's employers delivered another healthy month of hiring in June, adding 206,000 jobs and once again displaying the U.S. economy's ability to withstand continually high interest rates. Last month's job growth did mark a pullback from 218,000 in May. But it was still a strong gain, reflecting the resilience of America's consumer-driven economy, which is slowing but still growing steadily. Still, Friday's report contained some signs of a slowing job market. The unemployment rate ticked up from 4% to 4.1%, a still-low number but the highest rate since November 2021. The government also sharply revised down its estimate of job growth for April and May by a combined 111,000.

U.S. employers added just 143,000 jobs last month, but the jobless rate fell to 4% to start 2025. The first monthly jobs report of Donald Trump's second presidency suggested he's inherited a solid but unspectacular U.S. labor market. January job creation was down from the 261,000 added in November, and the 307,000 created in December. Economists had expected about 170,000 new jobs in January. Most Americans still enjoy unusual job security. But for those looking for work, the job hunt has been getting harder as the labor market cools from the red-hot hiring days of 2021-2023.