US employers add a surprising 119,000 jobs in September according to data delayed for weeks

"WASHINGTON (AP) U.S. employers added a surprisingly solid 119,000 jobs in September, the government said, issuing a key economic report that had been delayed for seven weeks by the federal government shutdown. The increase in payrolls was more than double the 50,000 economists had forecast. Yet there were some troubling details in the delayed report. Labor Department revisions showed that the economy lost 4,000 jobs in August instead of gaining 22,000 as originally reported."

"We've got these strong headline numbers, but when you look underneath that you'll see that a lot of that is driven by healthcare, said Cory Stahle, senior economist at the Indeed Hiring Lab. At the end of the day, the question is: Can you support an economic expansion on the back of one industry? Anybody would have a hard time arguing everybody should become a nurse."

"The unemployment rate rose to 4.4% in September, highest since October 2021 and up from 4.3% in August, the Labor Department said Thursday. The jobless rate rose partly because 470,000 people entered the labor market either working or looking for work in September and not all of them found jobs right away. The data, though late, was welcomed by businesses, investors, policymakers and the Federal Reserve. During the 43-day shutdown, they'd been groping in the dark for clues about the health of the American job market because federal workers had been furloughed and couldn't collect the data."

U.S. employers added 119,000 jobs in September, more than double economists' 50,000 forecast, while revisions reduced July and August payrolls by 33,000 and showed August lost 4,000 jobs. June payrolls also declined, making two months of negative readings since 2020. September gains were heavily concentrated in healthcare and social assistance and leisure and hospitality, accounting for over 87% of the increase. The unemployment rate rose to 4.4% as 470,000 people entered the labor market and not all found work. The delayed report followed a federal shutdown and was received positively by businesses, investors, policymakers and the Federal Reserve amid economic uncertainty.

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