Account Info
Log Out
English
Back
Log in to access Online Inquiry
Back to the Top
What does September's strong jobs report mean for the market?
Event Description
Ended
💡Summary: US economy added 336,000 jobs in September, surpassing expectations. The robust job report signals that the Federal Reserve wil Show More
💡Summary:
US economy added 336,000 jobs in September, surpassing expectations.
The robust job report signals that the Federal Reserve will likely have to hike its target rate further to slow hiring and the broader economy to tame inflation.

Nonfarm Payrolls 336K vs Forecast 170K
The US economy added 336,000 jobs in September, highlighting concern that the labor market isn't cooling as fast as the Federal Reserve would like in its battle against inflation. In September, the unemployment rate remained flat at 3.8%, unchanged from August and at a level not seen since February 2022.

Wages, a closely watched indicator of how much leverage workers have, rose less than expected last month, rising 0.2% on a monthly basis and 4.2% over last year. Economists expected wages to rise 0.3% over last month and 4.3% over last year.

Weekly Jobless Claims
On Thursday, the Labor Department reported that the number of Americans who applied for unemployment benefits last week rose slightly to 207,000, but they remained near pandemic-era lows and reflected an uber-strong labor market.
New jobless claims edged up from a revised 205,000 in the prior week, the government said.

Claims show a very low number of job losses and point to a stable economy. Unemployment claims typically rise toward 300,000 -- and eventually a lot higher -- when a recession approaches. Economists expected 210,000.

A higher-than-expected reading should be taken as positive/bullish for the USD, while a lower-than-expected reading should be taken as negative/bearish for the USD.

🎙️Q:
1. What does this mean for the economy?
2. Why are there millions of open positions but less than 90k new hires?

View disclosures here.
Views
478K
Posts
20
Join event
Latest
Hot
Related Stocks
  • .IXIC
    Nasdaq Composite Index
    18972.420
    +0.03%
  • .DJI
    Dow Jones Industrial Average
    43870.350
    +1.06%
  • .SPX
    S&P 500 Index
    5948.710
    +0.53%
  • QQQ
    Invesco QQQ Trust
    504.980
    +0.36%
  • TQQQ
    ProShares UltraPro QQQ ETF
    77.960
    +0.98%