According to data from the US Department of Labor, the number of new non-farm jobs in September rose to 263 thousand, while expectations ranged between 250 and 255 thousand jobs. New jobs in August were 315 thousand.
Labor market data, released Friday, showed that the unemployment rate in America fell to 3.5 percent, which is contrary to expectations of 3.7 percent.
Markets were eagerly awaiting the new jobs report, which came better than expected, which means that the US economy is still able to create jobs in large numbers, despite the tightening of monetary conditions.
These new better-than-expected numbers will serve as a reason to raise interest rates again at the next meeting of the US Central Bank.
These data led to immediate sharp declines in US stock markets, as the “Dow Jones” index fell by more than 1.1 percent, and “Standard & Poor’s” by more than 1 percent, as well as the “Nasdaq Composite” index by about 0.7 percent.
#Contrary #expectations #America #added #jobs #September #unemployment #fell #percent