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U.S. Jobs Report Shows Mixed September as Shutdown Pushes Next Data Past Fed Meeting

The Fed faces a December decision with no October or November labor data to guide it.

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Die Lage auf dem Arbeitsmarkt in den USA hat sich weiter eingetrübt. Im September stieg die Arbeitslosenquote um einen Prozentpunkt auf 4,4 Prozent, wie das Arbeitsministerium am Donnerstag in Washington mitteilte.

Overview

  • Nonfarm payrolls rose by 119,000 in September, roughly double economists’ expectations.
  • The unemployment rate increased to 4.4% as August payrolls were revised to a loss of 4,000 and September wages advanced a softer 0.2% month over month, with August wages revised up to 0.4%.
  • Because a 43‑day government shutdown disrupted data collection, the Bureau of Labor Statistics will publish October and November employment reports together on December 16.
  • With the policy rate at 3.75%–4.00%, the Fed meets December 9–10 without fresh jobs data, and CME FedWatch shows higher odds of holding rates, recently around 66%.
  • Labor Department figures show about 700,000 more people unemployed than a year earlier, with outsized losses in logistics and the public sector, including 97,000 federal jobs since President Trump returned to office.