U.S. Adds 119K Jobs in September as Unemployment Rises to 4.4%

The September jobs report, delayed by the recent government shutdown, shows the U.S. labor market strengthening more than expected. The Bureau of Labor Statistics released the data Thursday, marking the first official economic release since the shutdown ended.

Nonfarm payrolls rose by 119,000 in September, well above economists’ forecast of 50,000. The August figure was revised to a 4,000 decline, down from the previously reported gain of 22,000. Despite the strong job growth, the unemployment rate ticked up to 4.4% from 4.3% in August, slightly above expectations.

This report, normally published in early October, signals that more up-to-date labor data will not be available until mid-December.

Following the release, markets were little changed, with bitcoin holding onto recent gains near $91,900 after strong results and guidance from Nvidia calmed investors. U.S. stock futures continued higher, led by the Nasdaq, which was up 1.9%. The 10-year Treasury yield remained steady at 4.11%, while the dollar posted modest gains.

Before the report, markets had largely discounted the likelihood of a Federal Reserve rate cut in December, and the September jobs data is not expected to alter that view