US creates 254,000 jobs in September – above expectations – Money Times


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United States announces job openings for September (Image: Getty Images Signature)

Os USA (USA) created 254 thousand jobs in September, according to the employment report (payroll) released this Friday (04) by the Department of Work.

Last month's payroll data accelerated compared to the August reading, when the North American economy opened 142 thousand jobs.

The result was well above market expectations, which expected the creation of 147 thousand jobs.

The unemployment rate, in turn, fell slightly from 4.2% to 4.1% in the USA. The number of unemployed closed the month at 6.8 million.

The labor force participation rate, at 62.7%, remained the same as the August reading. The employment-population metric rose from 60% to 60.2%.

Regarding income, the average hourly earnings of the American worker, of US$35.36, rose 0.4% month-on-month and increased 4% compared to the same month in 2023.

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Beyond payroll

Other US employment readings, released earlier this week, also rose.

On Wednesday (2), the Jolts showed that the number of open jobs in the country rose from 7.711 million to 8.04 million between July and August.

The following day (3), the Automatic Data Processing report (ADP) — considered the payroll preview — pointed to the creation of 143 thousand new jobs in September in the private sector. In the previous month, the number was 103 thousand.

Job market and interest

The rise in the North American job market could disrupt the country's monetary easing plans. Federal Reserve. A buoyant labor market could prevent the central bank from accelerating the pace of cuts.

An adjustment of 0.25 percentage points (pp) remains on investors' radar at the Federal Open Market Committee meeting (Fomcin its acronym in English) in November, bringing the rate to a level between 4.50% and 4.75%.

Before the release of the payroll, 68.1% of the market expected a 0.25 pp cut in interest rates, while 31.9% considered a reduction of 0.50 pp, according to the CME FedWatch tool.

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