Non-farm payrolls data were released in the US. The data showed that 194 thousand jobs created in September were the lowest employment increase in 9 months.
Non-farm employment in the USA increased by 194 thousand in September. The expectation of economists participating in the Bloomberg survey was that the employment increase would be 500 thousand in September.
The employment increase, which was announced as 235 thousand in the previous month, was revised to 366 thousand. The unemployment rate in the country was recorded as 4.8 percent in September. In the Bloomberg survey, the expectation for this data was 5.1 percent.
Average hourly earnings rose 0.6 percent month-on-month in September, against expectations of 0.4 percent. On an annual basis, average hourly earnings increased by 4.6 percent, in line with the expectations. The labor force participation rate was 61.6 percent in September. The expectation for this data was 61.8%.
There Were Positive Signals From Leading Indicators.
The weekly unemployment benefits, which are accepted as the leading indicator in terms of employment data, also pointed out that there was a recovery in the employment market in September. However non-farm payrolls in the US did not meet expectations
In the first week of September, applications for unemployment benefits had reached the lowest level of the pandemic process with 312,000. Although there was an upward movement in applications in the following weeks in September, it remained low compared to the pandemic process.
Private sector employment in the US pointed to companies filling vacancies quickly after federal unemployment benefits ended on September 6.
It was stated that the opening of schools in the country, with the support of federal aid for the care of children, allowed people who stayed at home to return to work.