{"id":2058333,"date":"2023-10-06T17:27:42","date_gmt":"2023-10-06T21:27:42","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-economy-adds-336000-new-jobs-in-september-shattering-market-expectations\/"},"modified":"2023-10-06T17:30:33","modified_gmt":"2023-10-06T21:30:33","slug":"us-economy-adds-336000-new-jobs-in-september-shattering-market-expectations","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-economy-adds-336000-new-jobs-in-september-shattering-market-expectations\/","title":{"rendered":"US economy surpasses market expectations, adding 336k new jobs in September."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fus-economy-adds-336000-new-jobs-in-september-shattering-market-expectations%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2058333&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>The U.S. Economy Adds 336,000 New Jobs in\u2064 September, Reversing Summer Slowdown<\/h2>\n<p>The\u200d U.S. economy experienced \u2062a significant boost in September,\u200c with the \u2063creation of 336,000 new jobs, according \u2062to the latest data from the Bureau of Labor Statistics (BLS). This \u200cmarks a \u2064reversal of the cooling trend observed\u2062 during the summer months. \u200dThe job growth \u2062also surpassed expectations, exceeding the consensus estimate of 170,000 \u200cand the upwardly \u200brevised figure of 227,000 in \u2064August.<\/p>\n<p>In addition to the positive job numbers, \u2064the BLS also \u200cadjusted payrolls for July and \u2062August, increasing them by \u200b79,000 and 40,000, respectively. However, the unemployment rate remained unchanged at 3.8 percent, slightly higher than the market forecast of 3.7 percent.\u2063 The labor\u2062 force participation\u2062 rate also remained \u200bflat at 62.8 percent.<\/p>\n<blockquote>\n<h2>Related Stories<\/h2>\n<ul>\n<li>\n<h3><a href=\"http:\/\/www.theepochtimes.com\/us\/august-job-openings-unexpectedly-surge-as-investors-worry-about-higher-rates-5503097?ea_src=author_manual&#038;ea_med=related_stories\">August Job Openings Unexpectedly\u2062 Surge as Investors \u200bWorry About\u2062 Higher Rates<\/a><\/h3>\n<p class=\"text-comp-caption\">10\/3\/2023<\/p>\n<\/li>\n<li>\n<h3><a href=\"http:\/\/www.theepochtimes.com\/us\/trump-tells-detroit-autoworkers-that-bidens-ev-mandates-will-send-their-jobs-to-china-5499627?ea_src=author_manual&#038;ea_med=related_stories\">Trump Warns\u2064 Detroit Autoworkers \u200bBiden&#8217;s EV Mandates Will Send Jobs to China<\/a><\/h3>\n<p class=\"text-comp-caption\">9\/27\/2023<\/p>\n<\/li>\n<\/ul>\n<\/blockquote>\n<p>&#8220;The good news for the economy from this \u200cjobs report will be\u200c seen by \u2064many as constituting bad news for markets and monetary policy,&#8221; said top economist Mohamed El-Erian. &#8220;Given how \u200coften the Federal Reserve\u2062 has\u2064 stressed \u2062that \u200cit is &#8216;data dependent,&#8217; this will put a hike back on the table for \u2063markets on\u2062 November 1.&#8221;<\/p>\n<p>Some monetary \u200cpolicymakers argue\u200c that the central bank \u200bmay need\u2064 to raise interest rates or keep them higher for\u2063 a longer period \u200cto achieve the institution&#8217;s 2 percent \u200btarget inflation goal. Fed Gov.\u2064 Michelle Bowman expressed her belief that it \u2064would be appropriate for the\u200d committee \u200bto raise rates further and maintain them at a restrictive level to return \u200dinflation to the desired goal.<\/p>\n<p>The job\u2062 gains in September\u200d were\u200c primarily driven by three sectors: leisure and hospitality (96,000), government\u2062 (73,000), and health care (41,000). Social\u2062 assistance added 25,000 \u200dpositions, while manufacturing payrolls grew by 17,000. However, employment\u200d in other\u2064 sectors, such as transportation\u200c and warehousing, information, mining, and construction, remained relatively unchanged.<\/p>\n<p>While the headline figure of job growth is positive, some economists argue that the underlying data suggests\u200b stagnation. Many \u2063of the\u2064 new jobs \u200bwere concentrated in sectors \u2064like leisure and hospitality \u2064and the public sector,\u2062 indicating \u200cslow growth in the rest of the\u200c economy.<\/p>\n<p>Furthermore, the \u2063<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-economy-adds-336000-new-jobs-in-september-shattering-market-expectations\/\" title=\"US economy surpasses market expectations, adding 336k new jobs in September.\">annualized average hourly\u2064 earnings \u200cslipped slightly<\/a> to 4.2 percent from 4.3 percent, according to\u2064 the\u200c BLS report. On a month-over-month basis, average hourly \u200bearnings remained unchanged.<\/p>\n<p>Despite the positive job numbers, \u2063public\u200c sentiment regarding the economy \u2064remains mixed.\u2063 Various polls indicate\u2062 that a significant portion of \u200bthe\u2064 public feels\u200c discontented\u200c with the current economic climate. President Joe Biden, however, sees the\u200d September jobs report\u200b as evidence that\u2063 his economic policies, known\u2062 as &#8220;Bidenomics,&#8221; are working.<\/p>\n<blockquote>\n<h2>Public Discontent and Concerns<\/h2>\n<ul>\n<li>The \u200dlatest <a href=\"https:\/\/www.washingtonpost.com\/politics\/2023\/09\/24\/biden-trump-poll-2024-election\/\" target=\"_blank\" rel=\"noopener\">ABC News-Washington Post survey<\/a> found that 44 \u200bpercent of Americans believe they are worse\u2064 off financially.<\/li>\n<li>A recent \u2064 <a href=\"https:\/\/www.wsj.com\/politics\/policy\/voters-feel-better-about-the-economy-but-few-credit-biden-polls-find-3c7d98c9\" target=\"_blank\" rel=\"noopener\">Wall\u2063 Street Journal poll<\/a> \u200d revealed that roughly 3 in 5 respondents disapprove of\u2064 President \u200dBiden&#8217;s handling of\u2063 the economy.<\/li>\n<li>An\u2063 <a href=\"https:\/\/apnorc.org\/wp-content\/uploads\/2023\/08\/August-2023-Omnibus-Biden-Economy-Topline.pdf\" target=\"_blank\" rel=\"noopener\">Associated Press-NORC Center for Public Affairs Research \u200bsurvey<\/a> showed that only 36 \u200cpercent of\u200b respondents approved of President \u200bBiden&#8217;s economic management.<\/li>\n<li>A new <a href=\"https:\/\/d3nkl3psvxxpe9.cloudfront.net\/documents\/econTabReport_wyX9VrC.pdf\" target=\"_blank\" rel=\"noopener\">Economist-YouGov study<\/a> discovered that 68\u2063 percent of respondents believe the country is on \u2064the wrong track.<\/li>\n<\/ul>\n<\/blockquote>\n<p>The Biden administration maintains that \u2064the economy \u200cis performing\u200b better than expected and\u2062 that it will take\u200d time for the public to feel the effects of their\u2064 legislative accomplishments. Treasury\u200d Secretary\u2064 Janet Yellen emphasized\u2062 the positive impact of the administration&#8217;s investments in America.<\/p>\n<p>However, despite these claims, registered voters struggling \u2062in the current economic climate are leaning towards\u200d the\u200b Republican Party. An NBC News poll revealed that the GOP holds a \u200d21-point advantage in managing the economy, and\u2064 a significant portion of respondents believe that \u200dneither party adequately\u200b represents the middle class.<\/p>\n<blockquote>\n<h2>Impact on Fed \u2063Policy<\/h2>\n<p>The\u2064 U.S. <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bls-bidenflation-rose-8-6-in-may-the-highest-since-1981\/\" title=\"BLS: Bidenflation Rose 8.6% in May - the Highest Since 1981\">financial markets reacted negatively<\/a> to\u200b the September jobs report, with benchmark indexes experiencing a\u200c significant decline in pre-market \u200dtrading.<\/p>\n<\/blockquote>\n<p>The\u200c U.S. \u2064Dollar Index (DXY) rose \u200bby 0.4 percent, indicating a strengthening of the greenback\u2063 against other currencies. \u2063Treasury yields also saw a significant increase, with the benchmark 10-year \u200cyield surging by 12 basis points to nearly 4.84\u2062 percent.<\/p>\n<p>U.S. \u2064bonds initially experienced a boost following the better-than-expected labor data, \u2063suggesting that\u2063 the Federal \u2064Reserve may tighten monetary policy\u200c and raise interest\u2064 rates. The robust September jobs report allowed yields to reach their highest \u200clevels since 2007.<\/p>\n<p>According to the Federal Reserve&#8217;s latest projections, officials anticipate a median policy rate of 5.6 percent, indicating\u2063 the possibility of another rate \u2063increase at the November or December \u2062policy meetings. The projections \u200balso revised the unemployment rate downward for 2023, signaling a \u200dpositive outlook \u2063for\u2064 the labor market.<\/p>\n<blockquote>\n<h2>A Week of Labor Data<\/h2>\n<p>Prior to\u2062 the September jobs report, the U.S. labor market appeared to be performing better than expected.<\/p>\n<\/blockquote>\n<p>The number of job openings increased\u2062 in August, reaching 9.61 million,\u2064 surpassing expectations. \u2063Layoffs\u200b by U.S.-based employers were \u200dsignificantly lower than forecasted, while plans to\u200d add\u200b new positions increased. However, the ADP&#8217;s \u200bmonthly National Employment Report presented a different picture, with the\u200b private sector creating fewer\u2064 jobs than anticipated.<\/p>\n<p>Despite\u2062 the mixed labor data, \u200cthe overall sentiment is \u2062that the \u2062U.S.\u200b economy is on a positive trajectory. \u200cThe September jobs\u2064 report provides hope for continued growth, although \u2062concerns about public sentiment \u2064and the impact on\u2062 Fed policy remain.<\/p>\n<p> <\/p>\n<h2> How is the party effectively \u200daddressing the ongoing supply \u200bchain disruptions and labor shortages impacting the \u200dU.S. economy?<\/h2>\n<p><span>  Her party is \u200ceffectively addressing economic concerns.<\/p>\n<p>Looking ahead, the U.S. economy faces \u200dseveral challenges that may impact its growth trajectory. One key concern is\u200b the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/factory-order-growth-slowed-in-september-amid-supply-chain-chaos\/\" title=\"Factory Order Growth Slowed in September Amid Supply Chain Chaos\">ongoing supply chain disruptions<\/a>\u200c and labor\u200d shortages, which\u2064 have constrained production and led to higher inflation. The recent surge in energy prices due to supply disruptions\u2062 and increased demand further exacerbates inflationary pressures. These factors may pose risks to the overall economic recovery and could influence\u2064 the \u2064Federal Reserve&#8217;s \u200bdecision-making process.<\/p>\n<p>Another factor to\u2064 consider is the possibility of policy changes that could impact the business environment. President Biden&#8217;s proposed tax increases on corporations and wealthy \u200dindividuals have raised concerns among some economists and business leaders.\u200b Higher taxes may restrict\u2063 investment and hinder economic\u2063 growth\u200b in the long run.<\/p>\n<p>Additionally, the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/npr-cutting-10-of-workforce\/\" title=\"NPR Cutting 10% of Workforce\">global economic outlook remains uncertain<\/a>. \u2064The ongoing\u2062 COVID-19 pandemic, along with geopolitical tensions and trade disputes, could impact global trade and economic activity. As the United States relies \u200cheavily on international trade, any\u200b disruptions or slowdowns in\u200c the global economy\u200d could have spill-over effects on the domestic economy.<\/p>\n<p>Overall, the September job growth numbers present a positive \u2062picture of\u200b the U.S. economy, demonstrating resilience and a rebound from the\u200b summer slowdown. However, it\u2063 is important to delve deeper into the data to understand the nuances and challenges that \u2063lie ahead. As the \u2063country navigates through various economic\u2062 headwinds, policymakers and industry \u2064leaders must \u200bmake informed decisions to foster sustainable and inclusive growth.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. economy bounced back in September, adding 336,000 jobs, as per the Bureau of Labor Statistics. This marks a reversal from the summer&#8217;s slowdown. The figure is higher than the revised 227,000 jobs in August and surpasses the estimated 170,000 jobs. After a downward trend for seven months, this is a positive development.<\/p>\n","protected":false},"author":278,"featured_media":2058334,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[],"class_list":["post-2058333","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2058333","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/278"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2058333"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2058333\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2058334"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2058333"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2058333"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2058333"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}