Source item
Open original source ↗The US jobs data is out and there are surprises:
Job creation was only 29,000 in September, with the unemployment rate rising to 4.2% and monthly earnings growth moderating to only 0.1%. Add to that downward revisions to both July and August (about 60,000 jobs).
On the supply side, a more encouraging development with labor force participation increasing to 61.8%.
This will reinforce the impact of recent Fedspeak in calming expectations about an October rate hike.
#economy #markets #jobs #employment #earnings
Quoted context
These are the quoted author’s words.
It’s US Jobs Friday. Consensus forecasts point to nonfarm payroll growth of around 85,000 for September, down from 162,000 in August. Other key indicators are expected to hold steady: the unemployment rate at 4.1%, labor force participation at 61.6%, and monthly average hourly earnings growth of 0.3% (3.1% annual). #economy #markets #jobs #employment #unemployment #wages
elerianm ↗