The U.S. Bureau of Labor Statistics revised its August nonfarm payrolls figure upward to 186,000 from an increase of 133,000, an increase of 53,000; and its September nonfarm payrolls figure upward to 60,000 from an increase of 29,000, an increase of 31,000.
The revised figure shows that nonfarm payrolls increased by a total of 84,000 in August and September.
AI Interpretation: The significant upward revision of the employment data completely reversed previous market concerns about a cooling labor market, directly demonstrating the strong resilience of the US economy during the tightening cycle. This revision eliminated concerns about a short-term deterioration in employment, forcing the market to reassess the risk of an overheated economy. The Federal Reserve will have more confidence to maintain high interest rates in subsequent decisions, significantly reducing the urgency of a rate cut. This strong employment performance directly supported the dollar exchange rate and exerted sustained upward pressure on US Treasury yields.
