【Sorted: Summary of the key points of the US non-farm data in September】
1. The growth of non-farm employment in the United States exceeded all expectations last month, the unemployment rate unexpectedly fell, and wage growth accelerated.
In September, non-farm employment increased by 254,000, the largest increase in six months. The non-farm employment in the previous two months was revised up by 72,000 higher than before the revision.
2. The US unemployment rate fell to 4.1%, hourly wages increased by 0.4% month-on-month, and average hourly wages increased by 4% year-on-year, the highest level since March this year.
The unemployment rate for major ethnic groups such as blacks, whites and Hispanics fell, while the unemployment rate for Asians remained stable.
3. The underemployment rate (working part-time or not working) fell to 7.7% in September, the first decline in nearly a year.
The labor force participation rate (working) reached 62.7% for the third consecutive month.
The participation rate for golden-age workers aged 25-54 fell to 83.8%.
4. The number of unemployed people (or those who were fired) actually fell.
The data for "unemployed people and those who completed temporary work" fell by 95,000.
5. After the data was released, stocks, the dollar and U.S. Treasury yields rose as traders erased bets that the Federal Reserve would cut interest rates by 50 basis points in November.
The Biden administration praised the non-farm data and said it would continue to work hard to develop the middle class.
