U.S. September payrolls forecast to slow as Fed weighs another rate hike

  • Economists forecast U.S. nonfarm payrolls to increase by 90,000 in September.
  • The unemployment rate is expected to remain at 4.1% for a third month.
  • The Federal Reserve raised its benchmark rate to a 3.75%-4.00% range last month.

U.S. nonfarm payrolls are forecast to rise by 90,000 in September, down from August's 162,000 gain, while the unemployment rate is expected to remain at 4.1% for a third consecutive month. Economists expect August's initially strong payroll figure to be revised lower, citing seasonal-adjustment effects. Wage growth is forecast to accelerate to 3.2% year on year from 3.1% in August, a pace economists say does not indicate labor-driven inflation. Construction and manufacturing hiring is expected to remain supported by data-center and artificial-intelligence infrastructure investment, while leisure, hospitality and local-government education gains moderate. The Federal Reserve raised its benchmark rate by 25 basis points to 3.75%-4.00% last month, its first increase in three years, and markets assign roughly a 28% chance of another increase at its Oct. 27-28 meeting.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.