U.S. nonfarm payrolls added 29,000 in September, far below market expectations of 90,000, with the previous value revised down from 162,000. Private sector employment increased by 46,000, also below the expected 85,000, with the previous value revised down from 127,000. The unemployment rate rose to 4.2%, higher than the expected 4.1% and up from the previous 4.1%. Year-on-year growth in average hourly earnings fell to 3%, below the expected 3.2% and the previous 3.1%. All four indicators fell short of expectations, clearly signaling a cooling job market. According to financial media reports, August job openings fell to 7.079 million, below the expected 7.225 million, with the previous value revised to 7.335 million, consistent with the weakening direction of this nonfarm payroll and jointly pointing to continued contraction in labor demand. Rising unemployment combined with slowing wage growth means both supply and demand in the labor market are weakening simultaneously, a combination that may influence market expectations for future policy paths. #9月非农今晚公布, interest rate hike expectations become the focus
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