Core Insights - The U.S. labor market shows signs of stabilization before the government shutdown, with September non-farm payrolls increasing by 119,000, significantly exceeding the expected 51,000 [1] - The unemployment rate for September stands at 4.4%, higher than both expectations and the previous value of 4.3%, marking the highest level since October 2021 [1] - Average hourly wages in September increased by 3.8% year-over-year, surpassing the expected steady rate of 3.7%, but the month-over-month increase of 0.2% fell short of expectations and was lower than the previous month's 0.3% [1] Summary by Category Employment Data - September non-farm employment increased by 119,000, more than double the forecast of 51,000 [1] - August's job additions were revised down from an increase of 22,000 to a decrease of 4,000, with a total downward revision of 33,000 jobs for July and August combined [1] Unemployment Rate - The unemployment rate rose to 4.4% in September, the highest since October 2021, exceeding both prior values and market expectations [1] Wage Growth - Average hourly wages rose by 3.8% year-over-year in September, above the expected 3.7%, but the month-over-month growth of 0.2% was below expectations and a decrease from the previous month's 0.3% [1]

Group 1 - The U.S. non-farm payrolls and unemployment rate for July, along with average hourly wage growth on a month-over-month and year-over-year basis, are set to be released shortly [1]

Economic Data and Events Summary - Key economic data to be released on May 2, 2025, includes Japan's unemployment rate for March, which is crucial for assessing the labor market conditions in Japan [1] - Final manufacturing PMI values for April will be published for France, Germany, and the Eurozone, providing insights into the manufacturing sector's performance in these regions [1] - The Eurozone will also release preliminary CPI figures for April, both year-on-year and month-on-month, which are important for understanding inflation trends [1] - The unemployment rate for the Eurozone in March will be reported, offering a snapshot of employment conditions in the region [1] - In the United States, key labor market indicators for April will be released, including the unemployment rate, seasonally adjusted non-farm payrolls, and average hourly earnings both year-on-year and month-on-month, which are critical for evaluating economic health [1] - Additionally, the U.S. factory orders month-on-month for March will be reported, which can indicate manufacturing demand and economic activity [1] - The total number of oil rigs in operation in the U.S. as of the week ending May 2 will also be released, providing insights into the energy sector's activity [1]