In a major revision of recent data, the U.S. labor market now appears considerably different than was previously reported, according to today?s report from the Bureau of Labor Statistics. Payrolls expanded by 110,000 in September, the strongest monthly gain since May.

Just as important, last month?s reported loss of 4,000 jobs was revised upward to a gain of 89,000. Together, revisions for July and August added 118,000 jobs to the nation?s payrolls. 

Last month?s employment report showed job growth at an average of about 45,000 over the prior three months, the revised data and today?s payroll result raise the three month average to 97,000, a much healthier rate of job growth.

Even with the upward revisions - job growth has slowed this year. A reflection of the slowdown in the overall economy.