US economy adds more-than-expected jobs in September

The US economy added significantly more jobs than expected in September, indicating that the labor market remains resilient despite private-sector data pointing to weakness.

According to data released Thursday by the Bureau of Labor Statistics, the economy added 119,000 jobs in September, while expectations were for just 50,000 new jobs.

The release of this data was originally scheduled for October 3 but was delayed due to the government shutdown that began early last month and has only recently ended. Meanwhile, ADP reported that the private sector lost 29,000 jobs in September and added 42,000 jobs in October.

The importance of this report has increased as the Federal Reserve relies on it to assess the labor market ahead of its meeting scheduled for December 9–10, especially since the Bureau of Labor Statistics postponed the release of the November jobs report to December 16, with October data to be incorporated into that report.

According to the data, the unemployment rate rose to 4.4%, its highest level since October 2021.

The August figures were revised downward by 26,000 jobs, showing the economy actually lost 4,000 jobs that month. July data was also revised downward by 7,000 jobs, showing the addition of 72,000 jobs.