The U.S. non-farm employment accelerated in September, but the unemployment rate rose, suggesting that the labor market may still be weak.

On November 20, the U.S. non-farm employment growth accelerated in September, but the unemployment rate rose to 4.4%, and the previous month's employment data was revised down to negative values, indicating that the labor market remains weak. The U.S. Bureau of Labor Statistics reported on Thursday that after the non-farm jobs were revised down to a decrease of 4,000 in August, they increased by 119,000 in September. Economists surveyed by Reuters had previously predicted an increase of 50,000 in September after an increase of 22,000 in early August. Economists estimate that the economy currently only needs to create 30,000 to 50,000 jobs per month to accommodate the growth of the working-age population, far below the required level of about 150,000 in 2024. The unemployment rate rose from 4.3% in August to 4.4%. The increasing prevalence of artificial intelligence is also eroding labor demand, with entry-level positions being hit hardest, leaving recent college graduates struggling to find jobs. Economists point out that artificial intelligence is driving jobless economic growth. There are also views suggesting that the trade policies of the Trump administration have created an uncertain economic environment, weakening the hiring capacity of businesses, especially small businesses. ( Jin10 )