The US Department of Labor reports that while estimates for new non-farm jobs in September ranged from 250 to 255 thousand, the actual figure was 263 thousand. There were 315 thousand new employment in August.
In contrast to estimates of a 3. 7 percent unemployment rate, labour market statistics released on Friday revealed a decrease to 3.5%.
The markets eagerly awaited the fresh jobs report, which was stronger than anticipated. This indicates that despite the tightening of monetary conditions, the US economy is still able to create a significant number of jobs.
When the US Central Bank meets again, these new, better-than-expected data will be cited as justification for another increase in interest rates.
The “Dow Jones” index fell by more than one after these data, which immediately caused severe drops in US financial markets.
The “Nasdaq Composite” index decreased by about 0.7% percent, “Standard & Poor’s” by more than 1%, and “Standard & Poor’s” by more than 1%.
In September, America added more jobs than anticipated.
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