US job growth accelerated much more than anticipated last month, providing further reassurance for the ongoing stability of the labor market. Employers added an estimated 254,000 jobs in September, according to data released Friday by the Bureau of Labor Statistics. That’s a higher tally than August’s monthly total (which was upwardly revised to 159,000) and blows economists’ expectations for a 140,000-job gain out of the water. The unemployment rate dropped to 4.1% from 4.2%, the BLS report showed. The Federal Reserve, now keenly focused on protecting the labor market as high inflation appears to have been tamed, is closely scrutinizing employment data for any signs of weakness.
