In the US, non-farm employment increased by 254,000 people in September, surpassing expectations, while the unemployment rate decreased from 4.2% to 4.1%.

The US Department of Labor released the employment report for September. Accordingly, employment in non-agricultural sectors increased by 254,000 people in September. The non-farm employment figure, which exceeded market expectations by recording the strongest increase in six months, was forecasted to increase by 147,000. Employment continued to trend upward in the sectors of food services and drinking places, healthcare, public, social assistance, and construction during this period. The non-farm employment data for July and August were revised upward. Accordingly, the increase in non-farm employment was raised from 89,000 to 144,000 for July, and from 142,000 to 159,000 for August. UNEMPLOYMENT RATE FALLS BELOW EXPECTATIONS The unemployment rate in the US decreased by 0.1 percentage point to 4.1% in September. The unemployment rate, reaching its lowest level in three months, was lower than market expectations, which anticipated it to remain at 4.2%, as in August. The number of unemployed individuals in the country decreased by 281,000 people in September, dropping to 6,834,000. The labor force participation rate remained unchanged at 62.7%. The average weekly working hours decreased to 34.2 during this period, while the average hourly earnings, closely monitored by the US Federal Reserve (Fed), increased by 0.4% to $35.36. Market expectations were for average hourly earnings to increase by 0.3% during this period. Average hourly earnings had increased by 0.5% in August.