Good news for jobseekers, bad news to the business press: the economy added 336,000 jobs last month, more than twice the number expected. They're still all-in on the idea that everyone has to lose their jobs to tame inflation (that stock indexes are the key measure of economic health is never in doubt), but are aware that "more jobs" sounds good to people who have real ones. Accordingly, Yahoo News can't get through one sentence without telling everyone how to feel…
The US economy added 336,000 jobs in September, highlighting concern that the labor market isn't cooling as fast as the Federal Reserve would like in its battle against inflation.
… but CNN Business packs its headlines with words like "shock" and "stunning" and "shockingly" to make sure you don't even have to read that far. More people having jobs is "going to cost you," it adds—a "you" floating somewhere in its floating world without ever really finding its way to whoever you is. Something something the price of eggs.
The U.S. added about 336,000 jobs in September, nearly twice the Dow Jones prediction of 170,000 jobs and above the monthly average of 267,000 jobs over the past year, according to the newly released report by the Bureau of Labor Statistics. The unemployment rate in September stayed the same at 3.8%. The job gains took place in the leisure and hospitality, government and health care industries, among others, according to the BLS. The labor force participation rate also remained steady at 62.8 percent.
Last month it was reported that inflation was falling—but it hardly matters.