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US Jobs Slowdown Expected in September
2 Oct
Summary
- September job growth forecast at 88,000, a significant drop.
- Unemployment rate expected to remain steady at 4.1%.
- Average hourly earnings likely to hold at 0.3% increase.
The United States labor market is set for a new evaluation with the upcoming release of the September jobs report. Economists project that the economy added around 88,000 jobs during September, indicating a slower pace of job creation compared to the 162,000 jobs added in the preceding month of August.
The unemployment rate is expected to maintain its current level, holding steady at 4.1% on a month-over-month basis. Furthermore, projections suggest that average hourly earnings will likely see no change, remaining at a 0.3% increase.
This report provides crucial economic insights that will precede the Federal Reserve's October FOMC meeting. At this upcoming meeting, the central bank is widely anticipated to maintain current interest rates without alteration.
