Stories
US Payrolls Surge by 90,000, Unemployment at 4.1% Challenging Fed Outlook
- •US nonfarm payrolls are estimated to have risen by 90,000 in September, maintaining solid hiring momentum.
- •The unemployment rate is projected to remain at a one-year low of 4.1%.
- •Strong economic demand, including capital and consumer spending, is driving the robust hiring trend.
- •August inflation-adjusted personal spending is forecast to increase by 0.5%, the largest advance in over a year.
- •Investors are reassessing bets on a potential interest-rate hike by the Fed in October, with odds favoring a quarter percentage point increase.
Key Questions Answered
Economists estimate that the upcoming jobs report from the Bureau of Labor Statistics will show nonfarm payrolls rose by about 90,000. Meanwhile, the unemployment rate is projected to remain steady at a one-year low of 4.1%.
A separate report is forecast to show a 0.5% increase in August inflation-adjusted personal spending, marking the biggest advance in just over a year. Additionally, both the personal consumption expenditures price index and its core measure are projected to quicken in August compared to the previous month.
The Bureau of Economic Analysis is set to issue revisions to second-quarter gross domestic product and annual national GDP updates dating back to early 2021. The busy calendar also features August job openings figures, the Institute for Supply Management's manufacturing survey, and methodological updates for consumer spending data and the PCE price index.
