The U.S. September Non-Farm Payrolls Accelerate Growth but Unemployment Rate Rises, Labor Market Still Showing Signs of Weakness

BlockBeats News, November 20th. In the United States, non-farm payroll growth accelerated in September, but the unemployment rate rose to 4.4%, and the previous month's employment data was revised down to a negative value, indicating that the labor market remains weak. The U.S. Bureau of Labor Statistics said on Thursday that non-farm payrolls, after being revised down by 4,000 in August, increased by 119,000 in September. Economists surveyed by Reuters had previously predicted an increase of 50,000 jobs in September after an initial increase of 22,000 jobs in August. Economists estimate that the economy currently only needs to create 30,000 to 50,000 jobs per month to accommodate the growth of the working-age population, far below the required level of about 150,000 by 2024.

The unemployment rate rose from 4.3% in August to 4.4%. The increasing prevalence of artificial intelligence is also eroding labor demand, with entry-level positions experiencing the greatest impact, leaving recent college graduates struggling to find jobs. Economists point out that artificial intelligence is driving jobless economic growth. Some also believe that the Trump administration's trade policies have created an uncertain economic environment, weakening the hiring capabilities of businesses, especially small enterprises. (Jinshi)