In a catch-up report delayed by prior government disruptions, the U.S. Labor Department says the economy added 119,000 jobs in September — higher than many economists predicted. Meanwhile, the unemployment rate held steady at 4.4 %.
Why This Matters
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Stronger than expected: Many thought September would be weak, but the upside surprise suggests labor resilience.
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Stability in the job market: With the unemployment rate unchanged, the data signals a labor market that’s holding ground.
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Fed implications: The Fed will see this as a data point favoring caution — growth is still ticking along, so they might delay rate cuts or act more slowly.
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Inflation risk checks: More jobs could mean more wage pressure, which complicates inflation forecasts.