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Notizie economiche
04.10.2024

U.S. nonfarm payrolls rise much more than predicted in September; unemployment rate unexpectedly decreases

The U.S. Labor Department announced on Friday that nonfarm payrolls surged by 254,000 in September after an upwardly revised 159,000 increase (from 142,000) in August. The September reading marked the strongest monthly increase since March (+310,000) and was higher than the average monthly gain of 203,000 over the prior 12 months.

According to the report, the largest jobs advances occurred in food services and drinking places (+69,000), health care (+45,000), government (+31,000), social assistance (+27,000), and construction (+25,000).

The unemployment rate dropped to 4.1 per cent from an unrevised 4.2 per cent in the prior month. This represented the lowest rate in three months. 

Economists had predicted the nonfarm payrolls to grow by 140,000 and the jobless rate to remain unchanged at 4.2 per cent.

The labour force participation rate was unchanged m-o-m at 62.7 per cent in September, while hourly earnings for private-sector workers soared by 0.4 per cent m-o-m (or $0.13) to $35.36, following an upwardly revised 0.5 per cent m-o-m climb (from +0.4 per cent m-o-m) in August. Economists had foreseen the average hourly earnings to increase by 0.3 per cent m-o-m in September. Over the year, the average hourly earnings jumped 4.0 per cent in September, following an upwardly revised 3.9 per cent surge (from +3.8 per cent) in the previous month. Economists had forecast the annual wage to grow by 3.8 per cent in September.

The average workweek slipped 0.1 hour to 34.2 hours last month, marginally below economists' estimate of 34.3 hours.

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