The labor market strengthened more than expected in September as the government began to release official economic data again following a deal to end the shutdown.
Nonfarm payrolls rose by 119,000 in September, according to a Bureau of Labor Statistics report released Thursday morning. Economists had expected a gain of 50,000 while August’s reading was 22,000.
The unemployment rate, however, rose to 4.4% against the 4.3% expected and 4.3% in August.
This jobs report was supposed to come in the first week in October, but was delayed due to the government shutdown. More current employment data will not be available until mid-December.
Calm after strong results and views from NVIDIA Calmed Markets Thursday night, Bitcoin mostly held that gain, trading at $91,900. US stock futures continued strong gains led by NVIDIA, the NASDAQ up 1.9%. The 10-year Treasury yield remained at 4.11% and the dollar continued to make modest gains.
Before the report, the markets had more or less opportunities are removed of a fed rate cut in December and this data is unlikely to overturn that idea.
