Brian Jacobsen: September non farm payroll data supports Fed to temporarily postpone rate hike

Brian Jacobsen, Chief Economic Strategist at Annex Wealth Management, stated that the performance of the US job market has been weaker than expected, with July data being revised down to negative growth. In September, only 29000 jobs were added, and the employment diffusion index fell below 50. Federal Reserve Chairman Kevin Walsh needs to consider the lack of breadth in the job market, as this data supports a temporary suspension of interest rate hikes in October. (Source: Jin Shi) AI interpretation: The significant slowdown in employment growth and the significant downward revision of previous data directly reveal the serious decline of internal momentum in the labor market. The employment diffusion index has fallen below the boom bust line, clearly reflecting a large-scale contraction in recruitment demand across various industries. This weak performance has completely shattered the illusion of a stable job market, forcing the Federal Reserve to shift its policy focus from anti inflation to anti recession. This data provides strong factual support for the suspension of interest rate hikes, and the market will quickly revise its expectations for tightening policies.