In September, the non farm payroll in the United States recorded 29000 people, and the unemployment rate rose to 4.2%

The seasonally adjusted non farm payroll for September in the United States is 29000, with an expected 90000, and the previous value has been revised from 162000 to 133000; The unemployment rate in the United States for September was 4.2%, with an expected rate of 4.1%, compared to the previous value of 4.1%. (Source: Jin Shi) AI interpretation: The significantly lower than expected employment growth and the downward revision of the previous value directly reveal the severe cooling of the demand side of the labor market. The unexpected rise in unemployment rate has shattered the illusion of a stable job market, reflecting a significant decline in economic growth momentum. This data combination completely reverses the market's assessment of employment resilience, forcing the Federal Reserve to shift its policy focus from anti inflation to anti recession. The market will quickly price a more aggressive path of interest rate cuts to address the systemic risks brought about by the deterioration of the job market.