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U.S. jobs growth slows to 29,000 in September as unemployment rises FAST-MOVING
The U.S. labor market showed significant signs of slowing in September, with non-farm payroll employment increasing by only 29,000 jobs, falling well below the 90,000 anticipated by economists. Simultaneously, the unemployment rate rose to 4.2%.
This weaker-than-expected data has shifted market expectations regarding Federal Reserve policy. The probability of an interest rate hike in October has decreased significantly, with some reports suggesting the likelihood has fallen to as low as 14% to 21.6%.
Financial markets reacted immediately to the report. U.S. Treasury yields declined, and the U.S. Dollar Index also softened. In the commodities and crypto markets, gold prices saw an uptick, reaching levels near $4,227 per ounce, silver rose toward $62 per ounce, and Bitcoin increased by approximately 2.6% to reach $86,800.
Entities
Bitcoin · Bureau of Labor Statistics · CME Group · Challenger, Gray & Christmas · Conference Board · Department of Labor · Dow Jones · Federal Reserve · Glassdoor · Philip Jefferson · U.S. Bureau of Labor Statistics · U.S. Labor Department
Claims
What the coverage asserts, and how many sources carry each claim.
- [DISPUTED] Economists expect 90,000 jobs were added in September. srnnews.com · wtop.com · www.independent.co.uk
- [DISPUTED] Initial unemployment claims were 197,000 for the week ending September 26. allwork.space · internewscast.com
- [● 2 SOURCES] US consumer confidence reached its lowest level in over a decade. wtop.com · www.independent.co.uk
- [● 4 SOURCES] The unemployment rate is forecast to be 4.1%. srnnews.com · wtop.com · www.independent.co.uk
- [● 2 SOURCES] Planned layoffs by US employers fell 18% in September to 43,281. allwork.space · internewscast.com
- [● 2 SOURCES] The Glassdoor employee confidence index hit its lowest level since 2016. wtop.com · www.independent.co.uk
- [● 3 SOURCES] The unemployment rate is projected to remain at 4.1%. pazardziknovini.com · plevennovini.com
- [○ 1 SOURCE] The Bureau of Labor Statistics is responsible for publishing the upcoming US non-farm payroll report.
- [● 2 SOURCES] ADP data showed private sector employment increased by 90,000 jobs. pazardziknovini.com · plevennovini.com
- [● 3 SOURCES] Average hourly earnings are expected to rise by 0.3% month-over-month. pazardziknovini.com · plevennovini.com
- [● 2 SOURCES] Vice Chair Jefferson noted that inflation remains high for an extended period and requires more time for assessment. pazardziknovini.com · plevennovini.com
- [● 3 SOURCES] Market consensus expects non-farm payroll employment to increase by approximately 90,000 jobs. pazardziknovini.com · plevennovini.com