The labor market strengthened more than expected in September as the government begins publishing official economic data again following a deal to end the lockdown.
Nonfarm payrolls increased by 119,000 in September, according to a Bureau of Labor Statistics report released Thursday morning. Economists were expecting a gain of 50,000, while August’s reading was 22,000.
The unemployment rate, however, rose to 4.4%, up from the expected 4.3% and 4.3% in August.
This jobs report normally would have been released in the first week of October, but was delayed due to the government shutdown. More data on current jobs will not be available until mid-December.
Up modestly after Nvidia’s strong results and outlook calmed markets late Thursday, bitcoin largely maintained that gain, trading at $91,900. US stock index futures continued strong gains led by Nvidia and the Nasdaq rose 1.9%. The 10-year Treasury yield remained at 4.11% and the dollar continued to make small gains.
Before the report, markets had more or less ruled out the chances of a Fed rate cut in December and this data is not likely to reverse that notion.
