Non farm employment in the United States increased by 29000 in September, with the unemployment rate rising to 4.2%

In September, non farm payroll employment in the United States increased by 29000 people, lower than market expectations of 90000 people. The unemployment rate rose to 4.2%, and the total number of new jobs added in July and August was revised down by 60000, with an average three-month growth rate of about 50000 people. The average hourly wage has increased by 0.1% per month and 3.0% per year, indicating a slowdown in recruitment momentum and salary pressure. The market has lowered its expectations for a rate hike in October, and the policy focus has shifted to whether to raise interest rates by the end of the year. The G7 announced the release of 100 million barrels of crude oil and diesel reserves in the next four months, and the United States has lifted its ban on diesel exports. The consistency between job cooling and inflation cooling will affect interest rate expectations, US bond yields, and cryptocurrency valuations. (Source: BitUnix) AI interpretation: Non farm employment growth is significantly lower than expected and the previous value has been significantly revised down, clearly revealing that the US labor market is experiencing a substantial cooling. The slowdown in salary growth has further eased inflationary pressures and completely eliminated the need for short-term interest rate hikes. The weak employment market has forced the Federal Reserve to shift its policy focus from anti inflation to anti recession, and the market's pricing for interest rate cuts will rapidly rise. This data directly suppresses the upward potential of US bond yields and provides clear expectations of liquidity easing for risk assets.