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US BLS report: September adds 119,000 jobs but unemployment edges up to 4.4%

The US BLS reported that September added 119,000 jobs, surpassing expectations, while the unemployment rate rose to 4.4%, the highest since October 2021. Health care, bars and restaurants, and social assistance led employment gains, whereas transportation, federal government, and professional services declined. Average hourly earnings increased 0.2% for the month and 3.8% year-on-year. The labour force rose to 171.2 million, with a participation rate of 62.4%, as initial jobless claims fell to 220,000.

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