Crypto HeadlinesUS Macro Data for September: Weak Labor Market and Wages
In September, the US labor market showed signs of slowing down, prompting investors to revise their expectations regarding the monetary policy of the Federal Reserve System.
Unemployment Rate
The rate stood at 4.2%, exceeding the consensus forecast of 4.1% and the previous reading. This signals further cooling in the labor market and an increase in the number of unemployed citizens.
Employment Dynamics
Non-farm employment rose by only 29,000 jobs. This result significantly lagged behind the forecast of 89,000 and last month's figure of 133,000, indicating a sharp deceleration in job creation.
Wages
Average hourly earnings showed moderate growth. The year-over-year increase was 3.0%, below the expected 3.2%, while monthly growth was limited to 0.1% instead of the projected 0.3%. These figures suggest a reduction in wage-driven inflationary pressure.
