This is the September job jobs report. Non-farm payrolls are up a robust 119,000. 119,000 would be the best since April when we were up 158,000.In the rear view mirror, well, last month was downgraded from 22,000 to minus4,000. Now, if we look at what's going on with the unemployment rate, it ticked up from 4.3% to 4.4%. That was unexpected.4.4% before would uh last time we were at that level, boy, I have to go back a ways. October of 2021 when it was 4.5%. Now, if we look at labor force participation rate, ...

Employment Data - Non-farm payrolls increased by 73,000, the lowest rate of the year [1] - The two-month revision showed a decrease of 258,000 [1] Wage Growth - Average hourly earnings increased by 03% month-over-month, as expected [1] - Year-over-year average hourly earnings increased by 39%, 01% higher than expected and 02% higher than the previous 37% [2] - The previous 37% year-over-year earnings rate was the lowest since mid-2021 [2]

Employment Data - Non-farm payrolls increased by 73,000, the lowest rate of the year [1] - The two-month revision showed a decrease of 258,000 jobs [1] - The unemployment rate increased by 0.1% to 4.2%, marking the fourth time this year at this level [3] - Labor force participation rate came in at 62.2%, 0.1% lower than the previous reading and expectations [3] - The underemployment rate (U6) is at 7.9%, matching the level in March [4] Wage and Hours - Average hourly earnings increased by 0.3% month-over-month [2] - Average hourly earnings increased by 3.9% year-over-year, 0.1% higher than expected [2] - Hours worked increased by 0.1% to 34.3% [2] Market Reaction - Interest rates are moving lower, likely due to the significant revision in job numbers [4] - The 10-year Treasury yield decreased by approximately 0.07% (seven basis points) on the week, settling around 4.32% [5] - The two-year Treasury yield decreased by approximately 0.10% (ten basis points) [5] Government Perspective - The current administration is trying to reduce the size of government, which may impact government hiring figures in the report [8]

Labor Market Overview - June job additions were better than expected, with 147,000 jobs added [2] - The unemployment rate stands at 41%, equaling the rate in February [3] - Labor force participation decreased slightly to 623% [6] Earnings and Hours - Average hourly earnings increased by 02%, falling short of the expected 03% [3] - Year-over-year average hourly earnings were 37%, the lowest yearly rate since July of last year [4] - Average weekly hours worked were 342%, matching the rate in February [5] Economic Indicators - Initial jobless claims dropped by 4,000 to 233,000 [7] - Continuing claims are at 1964 million, comparable to 2021 levels [7] - The trade balance for May shows a deficit of 715 billion [7] Market Reaction - The positive job report and revision caused a rise in yield [8] - Dow futures more than doubled, indicating a positive market response [9] - The report raises questions about the need for economic easing [10]