– Unemployment rate in USA falls to 4.1 percent
The US economy created 254,000 new jobs, according to the US Department of Labor in Washington. Analysts had only expected 150,000 new jobs.
Published today at 4:35 p.m
Unemployed people line up to attend a job fair in Florida.
Foto: Keystone
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In the USA, the labor market was surprisingly strong again in September after a recent period of weakness. The US economy created 254,000 new jobs, according to the US Department of Labor in Washington. Analysts had only expected 150,000 new jobs. In addition, the increase in employment in the previous two months was revised upwards by a total of 72,000 jobs.
In addition, the unemployment rate surprisingly fell by 0.1 points to 4.1 percent. With the decline, the unemployment rate moved further away from its highest level since October 2021, which was 4.3 percent in July. For the US central bank, the Fed, the labor market and especially wage developments play a crucial role.
Wage development is also better
Wage development was also better than expected. On a monthly basis, wages rose by 0.4 percent in September, after analysts had only expected an increase of 0.3 percent. In addition, wage growth in August was stronger than previously known. The ministry has revised growth upwards to 0.5 percent. Initially an increase of 0.4 percent was determined.
Wages also rose more than expected year-on-year. Compared to the same month last year, they increased by 4.0 percent in September. Economists had expected an increase of 3.8 percent.
The development of labor market data is considered to be a decisive factor for the monetary policy of the US Federal Reserve Bank. If the situation on the labor market improves, this will be seen on the financial markets as a signal that speaks against interest rates falling sharply again.
In September, the Fed initiated the interest rate turnaround after the wave of inflation with a significant cut of 0.50 percentage points. The market is currently expecting a further cut at the next interest rate meeting in early November.
Wage developments influence general price developments and can increase inflation. The inflation rate in the USA last fell to 2.5 percent in August. This brings it closer to the US Federal Reserve’s target of two percent.
More about the American economy
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