US employers add 254,000 jobs in September, easing recession fears

US employers added 254,000 jobs in September, significantly exceeding expectations of around 150,000. The unemployment rate fell from 4.2% to 4.1%, marking the strongest job growth since March, according to the Labor Department. This increase in hiring comes as the economy shows resilience, easing concerns about a potential downturn. The central bank recently cut interest rates by 0.5 percentage points, but stronger job figures may lead to smaller future cuts. The Labor Department also revised job creation estimates for August and July, adding about 72,000 more jobs. Bars, restaurants, retailers, and health care firms drove the hiring, while manufacturing saw job losses. Average hourly pay rose 4% over the past year.