Unexpected U.S. Job Growth Complicates Fed’s Rate Decision

The U.S. labor market experienced a surprising rebound in September, adding to the complexity for the Federal Reserve as it considers interest rate cuts next month. According to a recent report by BlockBeats, non-farm payrolls surged by 119,000, significantly exceeding economists’ predictions of 50,000 and marking a substantial increase from the revised August figure of 22,000. Meanwhile, the unemployment rate rose to 4.4% in September, reaching its highest point since 2021, up from 4.3% in August. This report marks the first economic health indicator released by the U.S. Bureau of Labor Statistics since the record-breaking federal government shutdown disrupted data releases.