The September jobs report, delayed from its initial October 3 release date due to the record-long government shutdown, came in higher than expected. While this is good news for those worried about a sharp slowdown in the labor market, it does keep the odds of a December rate cut low.
According to the Bureau of Labor Statistics (BLS), nonfarm payrolls rose by 119,000 in September, beating economists' estimate for 50,000 new jobs. Figures for July were revised down by 7,000, from +79,000 to +72,000, while those for August were revised lower by 26,000, from +22,000 to -4,000.
