When inflation surged in late 2021 and into 2022, the Federal Reserve focused its attention squarely on the price stability part of its dual mandate. And for over a year, the policymakers drove home the message,

The September jobs report was stronger than expected and is likely to assuage recession fears, driving up hopes for soft landing or no landing economic scenarios.

The labor force participation rate among women ages 25 to 54, their prime working years, dipped to 78.1% September, from 78.4% in August. But that number is still hovering at record levels, and it’s been climbing steadily to new heights through 2024.

Odds of a 50-basis-point cut in November dropped to 9% from 33% within minutes of the release of the September jobs report.

Friday’s jobs report delivered another big surprise. Hiring picked up much more than economists expected with our nation adding 254,000 new jobs in September.

Key Takeaways U.S. employers added 254,000 jobs in September, blowing past expectations for 150,000 jobs to be added.It was the most jobs added in six months, underscoring the resilience of the job market despite a recent downshift.

The second to last jobs report before Election Day and the first one since the Federal Reserve cut the benchmark interest rate boosted the Biden adminstration.