The September jobs report shows that the U.S. economy added 119,000 new jobs, surpassing economists’ expectations. Most of these gains were seen in the private sector, particularly in the healthcare and construction industries, indicating specific areas of growth. Over the past year, wages for workers rose by 3.8%, reflecting improved earnings for American workers since the previous administration.

Labor force participation has also increased, indicating that more Americans are actively seeking employment and contributing to a positive trend in the job market. The report reveals a shift from earlier trends, with job gains predominantly benefiting native-born Americans, while foreign-born workers experienced a decrease in employment. As the economy continues to stabilize, projections for GDP growth suggest a positive outlook for future job creation and income levels.

The jobs report has received favorable reactions from experts, who view it as indicative of a healthy and improving labor market. Strengthened consumer spending and low credit card delinquency rates further reinforce the overall stability of the economy as it navigates a challenging fiscal environment. The findings suggest a resilient job market that may continue to thrive under changing economic conditions.

Original: article