Democrats Celebrate a Seemingly Impressive September Jobs Report – Here’s What The Media is Not Telling You
Joe Biden gives an Oval Office address on dropping out of the presidential race, pool photo by Evan Vucci,/Getty, July 24, 2024.
Democrats including Joe Biden are boasting about the strength of the latest job reports. However, the numbers aren’t actually as promising as they may seem.
In September, the U.S. economy added 254,000 jobs, significantly surpassing expectations and leading traders to anticipate a slower pace of interest rate cuts by the Federal Reserve following last month’s substantial reduction.
The figures, first reported by the Bureau of Statistics, exceeded the previous forecast of 140,000 from economists polled by Reuters.
It also marked an improvement over August’s upwardly revised gain of 159,000 jobs. The unemployment rate dropped to 4.1 percent,
