September Job Gains Beat Forecast at 119K, but U.S. Unemployment Climbs to 4.4%

U.S. Adds 119,000 Jobs in September, Unemployment Rises to 4.4%

The U.S. labor market strengthened in September, according to the delayed jobs report released Thursday by the Bureau of Labor Statistics following the recent government shutdown.

Nonfarm payrolls increased by 119,000, surpassing economists’ expectations of 50,000. August’s figure was revised to a 4,000 decline from the previously reported gain of 22,000. Meanwhile, the unemployment rate edged up to 4.4% from 4.3% in August, slightly above forecasts.

Typically released in early October, this report marks the return of official economic data, with the next update not expected until mid-December.

Markets held steady following the report. Bitcoin maintained gains near $91,900 after strong results and guidance from Nvidia boosted investor sentiment. U.S. stock futures advanced, led by the Nasdaq, up 1.9%. The 10-year Treasury yield held at 4.11%, while the dollar posted modest gains.

The report is unlikely to change market expectations, which have largely ruled out a Fed rate cut in December.

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