September Employment Situation: What It Means
The labor market proved stronger than expected in September. Nonfarm payrolls added 190,000 jobs, beating the 180,000 consensus. Unemployment held at 3.8% versus the 3.9% economists expected.
Average hourly earnings rose 0.3% month over month and accelerated to 4.2% year over year from 4.1%. The data suggests the economy retains hiring momentum even as the Fed maintains its restrictive policy stance.
Key Takeaways Nonfarm payrolls added 190,000 jobs in September, beating the 180,000 consensus. Unemployment held at 3.8%, below the 3.9% expected. Wage growth accelerated to 4.2% year over year from 4.1%. Labor force participation edged up to 62.7%, a positive supply signal. Markets reacted with m…
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