September jobs report: Job growth expected to pick up as unemployment rate stays flat

Published On Oct 3, 2024, 11:32 AM

The September jobs report suggests that while job growth is expected to increase (with a forecast of 150,000 new jobs added), the unemployment rate remains steady at 4.2%. This indicates a somewhat stabilized labor market that is moderating but not in severe decline. Analysts are cautious, noting that if the job numbers come in significantly weaker than expected, it could influence the Federal Reserve to consider further interest rate cuts at their upcoming meeting. Concerns exist regarding slowing rates of job switching and hiring, although overall job creation has remained positive in the private sector. The market is currently pricing a modest chance of an interest rate cut in November, reflecting uncertainty among investors about the Fed's next moves regarding monetary policy.