Breaking: US Nonfarm Payrolls Surge by 254,000 in September, Crushing Expectations

The US Bureau of Labor Statistics has reported a remarkable increase of 254,000 in Nonfarm Payrolls for September, signifi

cantly surpassing the market forecast of 140,000. This robust growth follows an upward revision in August's figures from 142,000 to 159,000, underscoring strong labor market conditions.

In addition to the payroll surge, the unemployment rate dropped slightly to 4.1% from 4.2%, while the labor force participation rate held steady at 62.7%. Wage inflation also showed positive momentum, with average hourly earnings rising by 4% year-on-year, compared to 3.9% in August, indicating increasing wage growth.

The US dollar strengthened against major currencies in response to the stronger-than-expected labor data. At the time of reporting, the USD Index had risen by 0.55%, reflecting heightened investor confidence in the US economy’s resilience.