US adds 248,000 jobs as unemployment rate drops to 5.9 per cent

 
Billy Ehrenberg
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It's a huge sigh of relief for the US labour market, with a big jump in jobs added (Source: Getty)

There was a huge sigh of relief from the US labour market as 248,000 jobs were added in September.

The unemployment rate also tumbled by 0.2 percentage points to 5.9 per cent.

The 248,000 figure was well up on the 215,000 which many anticipated - and a significant rebound from last month's dismal showing. The unemployment rate remained unchanged at 6.1 per cent.

In August, only 142,000 jobs were added - a far cry from the 225,000 analysts had predicted. This figure was revised up today, to 180,000.

As the chart shows, this is a significant jump on last month and takes the labour market back to the kinds of highs it saw in June and July.

Here is a chart showing both trends:

The report also included big revisions to previous estimates, with July payrolls revised up by 31,000 and August's poor showing up by 38,000.

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