September jobs report arrives today, almost seven weeks behind schedule

"The Labor Department delivers an overdue snapshot of the U.S. job market Thursday. It's almost seven weeks behind schedule. And because the government shutdown delayed data-gathering, there won't be another one until mid-December. While the information in the report is a bit stale, covering the month of September, it may offer some clues about the pace of hiring and firing this fall."

"Waller wants the Fed to cut interest rates again when policymakers meet next month, to boost demand and prop up the labor market. But minutes from the last Fed meeting, released on Wednesday, show considerable disagreement among central bank policymakers. Many members of the Fed's rate-setting committee suggested it would be appropriate to hold interest rates steady for the rest of the year, noting that inflation has remained stubbornly above the Fed's 2% target."

The Labor Department released a delayed September employment report because a government shutdown postponed data collection, with the next report delayed until mid-December. Job growth was sluggish over the summer, averaging fewer than 30,000 jobs per month, while layoffs remained limited. Federal Reserve governor Chris Waller reports business leaders are beginning to plan layoffs and sees the labor market nearing a stall. Major firms such as Amazon and Verizon announced significant job cuts. Waller urges an interest-rate cut to support demand and jobs, but Fed minutes show policymakers divided as inflation remains above 2%, partly due to tariffs.

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