PANews|11月 20, 2025 13:41
The unexpected increase of 119000 non farm payroll jobs in the United States in September has made the Federal Reserve's decision to cut interest rates more complex
According to a report by JinShi, the UK financial commentary on the US September non farm payroll report pointed out that the unexpected rebound in the US labor market will make the Federal Reserve's decision on whether to cut interest rates next month more complicated. The new non farm payroll for September, announced on Thursday, recorded 119000 people, not only higher than the 50000 predicted by institutional survey economists, but also significantly higher than the revised 22000 people in August. The unemployment rate rose from 4.3% in August to 4.4%, reaching a new high since 2021. This report is the first economic health indicator released by the US Bureau of Labor Statistics since official data was interrupted due to the record breaking federal government shutdown. The unexpectedly positive data will strengthen the stance of hawkish members of the Federal Open Market Committee, who have consistently warned the Fed not to cut interest rates too quickly. After the data was released, the US treasury bond bond yield and the US dollar index both fell. Despite long-term pressure from US President Trump on the Federal Reserve to cut interest rates, there have been profound divisions within the central bank: one advocates continuing to cut rates at the December meeting to support the labor market, while the other is concerned that it may exacerbate inflation risks. The government shutdown has added insult to injury to the Federal Reserve's decision-making process - the release of regular economic reports has been interrupted, and the Bureau of Labor Statistics announced on Wednesday that due to the stagnation of data collection during the shutdown, it will no longer release the October employment report separately, and some data will be merged into the November report for release.
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