US Non-Farm Payrolls (September)
US Non-Farm Payrolls: +29K jobs in September vs 84K expected; unemployment rises to 4.2%
Actual
29K
Forecast
84K
Previous
133K (August, revised from 162K)
What it means
This monthly report measures how many net new jobs the US economy created. September came in far below forecasts, unemployment rose from 4.1% to 4.2%, and July and August were revised down by a combined 60,000 jobs (August: 133K from 162K).
What it moves
A weaker labor market usually raises bets on Fed rate cuts, which tends to push bond yields and the dollar lower and support gold. For stocks the effect is mixed: lower rates help, but slowdown fears weigh.
Affected markets
- US Treasuries ↑ — Weak hiring raises expectations of Fed rate cuts, lowering yields.
- US Dollar ↓ — Lower expected rates reduce the dollar's yield appeal.
- Equities → — Rate-cut hopes help, but weak growth worries offset them.
- Gold ↑ — Lower yields and slowdown fears support gold.
🎓 Today's takeaway
Never read just the headline: check the number versus expectations, the revisions to prior months, and the unemployment rate. A single month is noise; the multi-month trend is the signal.
Vectorial Economía is descriptive educational information about macro data. Not investment advice. Past market behavior does not guarantee future results.