September's Job Data is Finally Out—Here's What It Revealed

Core Insights - The U.S. economy added 119,000 jobs in September, exceeding forecasts of 50,000, while the unemployment rate rose to 4.4% from 4.3% [1][7] - The report indicates a mixed picture of the labor market's health, with job creation rebounding after a summer slowdown [2][3] Job Market Performance - Job creation in September was the highest since May but below the monthly average of 147,000 jobs over the previous 12 months [3] - The unemployment rate increase was attributed to more job-seekers rather than layoffs, with the labor force participation rate rising to 62.4% [3] Sector Contributions - Most job gains were seen in the health care, leisure, and retail sectors, while federal government employment fell by 3,000 and manufacturing lost 6,000 jobs [4] Survey Insights - The job market report is based on two surveys: one from employers showing high job growth and another from households indicating a higher unemployment rate [8][9] - The government shutdown disrupted the surveys, leading to the cancellation of the October jobs report, which is unprecedented [10]