The US added 119,000 jobs in September, surpassing economists’ expectations amid worries of a cooling labor market. However, the unemployment rate rose to 4.4%, up from 4.3% last month, and revised numbers for August showed the economy shed 4,000 jobs.
“A subdued pace of job creation has become somewhat of a norm in recent months,” an investment strategist told The Guardian. “And while September has surprised on the upside, the ongoing data uncertainty leaves a large question mark over the true state of the market.”
September’s much-delayed report ended the seven-week data drought brought on by the government shutdown, but it will be the only one the Federal Reserve will have to assess the economy’s health before deciding whether to cut interest rates in December.