On December 10, the Federal Reserve is set to announce its final interest rate decision of the year. However, the release of multiple reports has been halted due to a governmental shutdown, causing delays and potential non-publication of significant data. The recent U.S. employment report for September stands out as the last fully available job report before the Federal Reserve makes its decisive announcements.
Breaking News: September U.S. Employment Report
The employment report for September was delayed due to the ongoing shutdown in October. The non-farm employment figures showed an expected increase of 51,000, while August figures were recorded at 22,000. Analysts were keenly watching to see if August figures would be revised and if the new report would fall below expectations. For the unemployment rate, predictions stood at 4.3%, and the forecast for average earnings was a 3.7% rise, aligning with August statistics.
An increase in average earnings reflects strong job market demand, and if non-farm employment falls below expectations, it would confirm the employment contraction that has justified rate cuts so far.
- Non-Farm Employment (September) Announced: 119K (Expectation: 51K Previous: 22K)
- Unemployment Rate Announced: 4.4% (Expectation and Previous: 4.3%)
- Average Earnings Announced: 3.8% (Expectation and Previous: 3.7%)
The rise in the unemployment rate past 4.4% for the first time in a long while, along with the better-than-expected non-farm employment figures, overshadowed the minor significance of average earnings.
As the day progresses, at 16:45, Federal Reserve member Hammack will address the Financial Stability Conference. At 17:35, the U.S. Labor Secretary will issue statements, while at 17:30, Fed member Barr will participate in an AI event. White House Press Secretary statements are expected later in the day.
