BUSINESS + ECONOMY

Analyst: September jobs report reflects economic stability

Oct 6, 2023, 6:32 AM | Updated: 6:47 am

now hiring jobs report stock photo...

A 'Now Hiring' sign posted outside of a restaurant looking to hire workers on May 05, in Miami. (Credit: Joe Raedle/Getty Images)

(Credit: Joe Raedle/Getty Images)

SALT LAKE CITY — US employers added 336,000 jobs in September 2023, according to the monthly report released from the Bureau of Labor Statistics.

Analysts say the numbers reflect signs of resilience in the economy, as many economists expected a lower number of new jobs added last month. 

Jobs report shows resilience, stability

Robert Spendlove, senior economist at Zions Bank, sees stability in the numbers. 

“Unemployment rate stayed the same at 3.8%, so we see that’s kind of stable,” he told Utah’s Morning News on KSL NewsRadio. “It increased – had a little bit of a jump last month, and this month it held steady.”  

He expects the Federal Reserve to continue to raise interest rates to fight inflation amid a strong economy. 

“The Fed is trying to slow down the job market, trying to slow down the overall growth of the economy. But what this report shows is that the economy continues to be really strong, the labor market is really strong. So that means the Fed has to keep those rates higher for longer,” he added. 

Read more: 

We want to hear from you.

Have a story idea or tip? Send it to the KSL NewsRadio team here.

Business + Economy

Tesla CEO Elon Musk and his security detail depart the company's local office in Washington, U.S. J...

Oliver Darcy, CNN

Major brands are not only pausing ads on Elon Musk’s X. They’re stepping away from the platform altogether

A number of media brands have not only paused their paid marketing campaigns on Elon Musk's X but have ceased posting on it altogether.

3 hours ago

a person puts money into a piggy bank...

Alexandrea Bonilla

Numbers show spending is up and savings are down

Recent numbers from the U.S. Bureau of Economic Analysis are showing that, since the pandemic, spending is up but savings are down.

6 hours ago

A man counts U.S. $100 bills at the craft and art market in Lagos, Nigeria, on Wednesday, Aug. 16, ...

Curt Gresseth

Men, women, and generations disagree on how much money will buy happiness

How much money does it take to buy happiness. A Utah financial planner shares some surprising insights.

7 hours ago

(CNN) — The Federal Communications Commission on Thursday cracked down on a massive illegal robo...

Alexandrea Bonilla, Amie Schaeffer

Cyber Monday spending to surpass Black Friday

Cyber Monday shoppers are expected to spend a lot money online as they shop for the holidays brining in more money than Black Friday.

15 hours ago

(Canva)...

Michelle Lee

Holiday shopping and budgeting tips

Let's Get Moving Host Maria Shilaos spoke with with Bankrate's Senior Industry Analyst Ted Rossman to discuss his holiday shopping tips.

1 day ago

From left: Tom Blyth, Rachel Zegler, Hunter Schafer and Josh Andres Rivera attend the premiere of "...

JAKE COYLE, AP

‘Hunger Games’ feasts, ‘Napoleon’ conquers but ‘Wish’ doesn’t come true at Thanksgiving box office

Disney's “Wish” had been expected to rule the Thanksgiving weekend box office, but moviegoers instead feasted on leftovers.

1 day ago

Sponsored Articles

front of the Butch Cassidy museum with a man in a cowboy hat standing in the doorway...

Bear Lake Convention and Visitors Bureau

Looking Back: The History of Bear Lake

The history of Bear Lake is full of fascinating stories. At over 250,000 years old, the lake has seen generations of people visit its shores.

silhouette of a family looking over a lake with a bird in the top corner flying...

Bear Lake Convention and Visitors Bureau

8 Fun Activities To Do in Bear Lake Without Getting in the Water

Bear Lake offers plenty of activities for the whole family to enjoy without having to get in the water. Catch 8 of our favorite activities.

Wellsville Mountains in the spring with a pond in the foreground...

Wasatch Property Management

Advantages of Renting Over Owning a Home

Renting allows you to enjoy luxury amenities and low maintenance without the long-term commitment and responsibilities of owning a home.

Clouds over a red rock vista in Hurricane, Utah...

Wasatch Property Management

Why Southern Utah is a Retirement Paradise

Retirement in southern Utah offers plenty of cultural and recreational opportunities. Find out all that this region has to offer.

Human hand holding a protest banner stop vaping message over a crowded street background....

Prosperous Utah Communities

Utah’s Battle to Protect Youth from Vaping Epidemic Faces New Threat as Proposed Rule Threatens Progress

Utah's strict standards of nicotine levels in vaping products are at risk, increasing health hazards associated with use. Read more about how you can advocate for a better future for Utah's youth.

Aerial photo of Bear Lake shoreline with canopies and people camped out on the beach...

Visit Bear Lake

Last-Minute Summer Vacation Planning? Check Out Bear Lake!

Bear Lake is the perfect getaway if you are last-minute summer vacation planning. Enjoy activities with your whole family at this iconic lake.

Analyst: September jobs report reflects economic stability