Economists Predict September US Job Growth Slowdown
Economists forecast nonfarm payrolls will increase by 90,000 in September following a surprise surge in August, while the unemployment rate is expected to hold at 4.1%.
Economists predict a slowdown in United States job growth for September, forecasting that nonfarm payrolls will increase by 90,000. This follows a surprise surge of 162,000 jobs in August, which analysts characterize as an anomaly caused by seasonal adjustment volatility. The Bureau of Labor Statistics is expected to publish the official report on Friday, and analysts anticipate the agency will revise the August figures downward.
The unemployment rate is forecast to remain steady at 4.1% for the third consecutive month. While resilient domestic demand and corporate profit growth currently protect workers from layoffs, economists warn of emerging risks. Specifically, the conflict between the United States and Iran has led to record-high diesel prices and strained supply chains, which could negatively impact the labor market by the end of the year.
Additional pressures are mounting in the industrial sector, where manufacturers report rising anxiety regarding a trade war with Canada. These combined economic headwinds may influence the interest rate bias of the Federal Reserve System as it monitors labor market stability.
