Mmastodon BusinessEconomy first seen 5 h ago, last 55 min ago, peak #6

US economy adds just 29,000 jobs in September, far below forecasts

Original: Expected 84K jobs. Got 29K. MISS. September's employment report is a disaster: 65% below forecast, unemployment ticked U

The September US employment report badly missed expectations, with only 29,000 jobs added against forecasts of roughly 84,000. Unemployment rose to 4.2%, monthly wage growth slowed to 0.1%, and prior months were revised down by about 60,000 jobs. Commentators are calling the report a disaster, and markets are now pricing in interest rate cuts as investors shift toward bonds.

Why now: The surprisingly weak jobs numbers are fueling expectations of imminent Federal Reserve rate cuts.

United StatesFederal ReserveUS labor market

Open on mastodon →

Rank over time, top of the chart is #1. 5 snapshots from 5 h ago to 55 min ago.

Evidence

• Expected 84K jobs. Got 29K. MISS. September's employment report is a disaster: 65% below forecast, unemployment ticked UP to 4.2%, wage growth collapsed to 0.1% monthly. Previous months got gutted—60K jobs revised away. Markets are pricing in rate cuts NOW. Bonds are… · cbarbermd · 3

API: https://socialmediatrends-api.osmike.com/v1/trends/741556