U.S. September Nonfarm Payrolls Rise by 119,000, Surpassing Forecasts
September payrolls exceeded projections while unemployment hit its highest point since 2021, intensifying debate over Federal Reserve interest rate policy amid delayed government data releases.
Summary
U.S. nonfarm payrolls in September increased by 119,000, surpassing economists’ forecasts of 50,000 and August’s revised gain of 22,000. The unemployment rate rose to 4.4%, the highest since 2021, adding pressure to Federal Reserve deliberations on interest rate cuts. Delays in government data reporting have further complicated policy discussions.
Terms & Concepts
- Nonfarm payrolls: A measure of the number of paid U.S. workers, excluding farm employees, private household staff, and non-profit organization workers.