The unexpected increase of 119,000 non-farm jobs in the United States in September makes the Federal Reserve's decision on interest rate cuts more complicated.

The British financial Times commented on the US September non-farm payrolls report, pointing out that the unexpected rebound in the US labor market will make the Fed's decision on whether to cut interest rates next month even more complex. The September addition of non-farm payrolls, released on Thursday, recorded an increase of 119,000 people, not only higher than the 50,000 people predicted by economists surveyed by institutions, but also significantly higher than the revised 22,000 people in August. The unemployment rate also rose from 4.3% in August to 4.4%, reaching a new high since 2021. This report is the first economic health indicator released by the US Bureau of Labor Statistics since the record government shutdown interrupted the publication of official data. The unexpectedly positive data will strengthen the stance of hawkish members of the Federal Open Market Committee, who have consistently warned the Fed against cutting interest rates too quickly. After the data was released, US Treasury yields and the US dollar index both fell. Although US President Trump has long pressured the Fed to cut rates, there are deep divisions within the central bank: some advocate for continuing rate cuts to support the labor market at the December meeting, while others worry about the potential inflation risks. The government shutdown has added to the difficulty of Fed decision-making - with the interruption of regular economic report releases, the Bureau of Labor Statistics announced on Wednesday that due to the shutdown affecting data collection, they will no longer release the October employment report separately, and some data will be combined with the November report.