Shutdown-delayed report shows 119,000 jobs added in September
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The economy added 119,000 jobs in September, while the unemployment rate edged up to 4.4%, the Bureau of Labor Statistics said on Thursday in a release delayed by the record-long government shutdown.
Why it matters: The labor market was in better shape than previously thought in September, complicating the economy's current picture.
Yes, but: The report showed payrolls revised lower by a combined 33,000 in July and August, indicating a weaker labor market than initially estimated over the summer.
- With those revisions, the economy has shed workers two of the last four months.
Zoom in: In September, health care, restaurants and social assistance were among the sectors to add workers. Transportation and warehousing and the federal government shed workers.
- The unemployment rate rose by 0.1 percentage point for the fourth consecutive month.
- That is largely a result of almost half a million workers entering the labor force in September, though the number of jobless Americans did edge up.
Between the lines: It is the lone jobs report the BLS will release until December. The agency on Wednesday canceled the October jobs report.
- The shutdown prevented the agency from collecting all of the necessary data to compile it.
The big picture: The report was supposed to be released on Oct. 3, but the government shut down two days prior, shelving the report and delaying many others.
- In lieu of government jobs data, economic policymakers have leaned on private sector indicators.
- Those reports suggested the nation's hiring lull continued through September, despite otherwise strong economic growth, fueled by AI investment.
What to watch: The Federal Reserve is its most divided in years over whether to forge ahead with another rate cut.
- Some Fed officials, however, have pointed to the recent data blackout as one reason to hold rates steady at the next policy meeting in December.
- Other officials say a December rate cut is necessary to shield the labor market from further weakness, with Fed governor Christopher Waller saying any data — including Thursday's jobs report — was unlikely to change his mind.
Editor's note: This story has been updated with additional details from the report.
