US job growth accelerated in September, with nonfarm payrolls increasing by 254,000 and the unemployment rate dropping to 4.1%, according to the Labor Department.

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• Nonfarm payrolls increased by 254,000 in September.
• August payrolls were revised upward to 159,000 jobs.
• Unemployment rate fell to 4.1% from 4.2% in August.
• Wages increased 0.4% in September, following a 0.5% rise in August.
• Annual wage growth hit 4.0% year-on-year.
• Job gains surpass economists’ prediction of 140,000 new positions.
• Layoffs remain low, supporting consumer spending.
• Rise in labor supply attributed to increased immigration.
• Boeing machinist strike and Hurricane Helene could impact future payrolls data.
• Markets saw a 71.5% chance of a quarter-point interest rate cut in November.