From CNBC:
Job growth bounced back in September after a disappointing August, with the U.S. economy creating 248,000 fresh positions.
The Bureau of Labor Statistics also reported that the unemployment rate held steady at 5.9 percent. Taken together, the numbers renewed hopes that employment growth is on a sustainable track higher.
August's meager 142,000 reading was revised up to 180,000, while the July number came up from 212,000 to 243,000.
A broader measure of unemployment, U6, fell fom 12.0 to 11.8.
The revisions are quite significant. There was widespread disappointment in the August number, which was understated.
Other good news from the employment market: New unemployment claims is at an 8 year low and planned job cuts are at a 14 year low.
None of this is to say that things are awesome. Job growth has been in lower wage jobs, and the growth that we have seen has benefited the rich. As I have written for over 10 years here: gloablization and automation have worked to shift the balance of power from labor to capital and this number doesn't reverse that.
Moreover, unemployment is lower because many have given up looking for work. There is an argument about how much of that is due to retirements but clearly some of it is related to the underlying weakness in the job market.