In the long-awaited September jobs report, the US Bureau of Labor Statistics (BLS) revealed that the labor market grew by 119,000 non-farm payroll jobs in that month, exceeding economist forecasts for 51,000. Additionally, the unemployment rate increased by 0.1% to 4.4%, while average hourly earnings rose by 0.2%.
KPMG US Chief Economist Diane Swonk discusses whether the Federal Reserve should still opt to cut interest rates and the US central bank’s restrictions on rescheduling or postponing its December FOMC meeting.
BLS officials announced earlier this week that they will not be publishing the October jobs report, but instead will include October’s data in the November report; this has been delayed to December 16, which comes after the Fed’s next policy meeting.
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