Private sector jobs in the United States increased more than expected in September, further evidence that labor market conditions have not deteriorated.
The employment report on Wednesday showed that jobs in the private sector increased by 143,000 jobs last month, up from 103,000 jobs in August.
Economists polled by Reuters expected the number of jobs in the private sector to increase by about 120,000 jobs after an increase of 99,000 jobs in August.
Government data showed yesterday, Tuesday, that market conditions are good, as the number of vacant jobs per unemployed person reached 1.13 jobs in August, compared to 1.08 in July.
Last month, the Federal Reserve cut interest rates by 50 basis points to a range between 4.75% and 5%, the first cut in borrowing costs since 2020, in a sign of growing concerns about the strength of the labor market.
The US Federal Reserve is expected to cut interest rates again in November and December.
A Reuters poll of economists showed that jobs in the private sector likely increased by 125,000 jobs in September after rising by 118,000 jobs in August.
