10 hrs ago
September US jobs report expected to show slower growth
The United States is expected to have added fewer jobs in September than in August.
Economists predict that about 90,000 new jobs were created.
They expect the unemployment rate to stay at 4.1%.
This would be the third month in a row at that level.
Pay increases may have become slightly faster.
Construction and manufacturing could benefit from building infrastructure for artificial intelligence.
The August job increase may be revised downward because of seasonal adjustments.
The report will help the Federal Reserve decide how to approach interest rates.
Economists expect US nonfarm payrolls to rise by 90,000 in September, down from 162,000 in August.
The unemployment rate is forecast to remain at 4.1% for a third consecutive month.
Average hourly earnings are expected to increase 3.2% year over year, compared with 3.1% in August.
Construction and manufacturing employment may receive support from investment in artificial-intelligence infrastructure.
The report could influence expectations for the Federal Reserve's next interest-rate decision.
- Who
- The US Bureau of Labor Statistics will release the report, which is being closely watched by economists and the Federal Reserve.
- What
- The September employment report is expected to show slower job growth, a 4.1% unemployment rate, and slightly faster wage growth.
- Where
- The United States.
- When
- The report is due for September, after the Federal Reserve raised interest rates in September.
- Why
- The figures could provide clues about inflation, labor-market strength, and the Federal Reserve's next interest-rate decision.
Key facts
- Expected payroll growth
- 90,000 jobs in September
- August payroll growth
- 162,000 jobs, with a possible downward revision
- Expected unemployment rate
- 4.1% for the third consecutive month
- Expected wage growth
- 3.2% year over year, compared with 3.1% in August
- Estimated jobs needed monthly
- About 50,000 to 80,000 to keep pace with working-age population growth
- Federal Reserve policy rate
- 3.75% to 4.00% after a 25-basis-point September increase
Sources
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