The report, which was late due to the government shutdown, was much better than economists thought it would be.
The delayed September jobs report showed that employers added 119,000 new jobs, which was a big surprise. Experts had expected only about 50,000 new jobs. The report was released late because the government shutdown stopped normal work and delayed the data. Even though the report is now a bit old, the strong numbers suggest that the economy may still be doing better than many thought.
The report also revised the August numbers. What was first reported as a gain of 22,000 jobs was changed to a loss of 4,000 jobs. This shows how uncertain the data has been during the shutdown. The unemployment rate went up slightly to 4.4%, compared to 4.3% the previous month.
Different industries showed different results. Health care added 43,000 jobs, which matches the strong growth the sector has shown in recent months. Restaurants and bars did well too, adding 37,000 jobs. But transportation and warehousing lost 25,000 jobs. This drop may be linked to concerns about President Donald Trump’s import tariffs and the impact they may have on trade. Jobs in the federal government also continued to fall, dropping by 3,000. Federal employment has now fallen by 97,000 since January. The government says the report does not fully reflect furloughs and other cuts that were supposed to begin at the end of September.
Many economists were surprised by the strong results. Alexander Guiliano, founder of Resonate Wealth Partners, said the jobs report was “much stronger than expected.” He added that the Federal Reserve may now take more time before deciding on any changes to interest rates in December. Because the shutdown delayed important economic data, many experts think the Fed will be careful and wait for clearer information. Guiliano said the report shows that “the labor market is not as weak as feared.”
Last month, the Federal Reserve cut interest rates by a quarter point. They said the labor market had been getting weaker, which was part of the reason for the cut. Whether they will cut rates again in December is unclear. Meeting notes from the Fed released on Wednesday showed that many members are worried that another cut could increase inflation, which is already higher than the Fed’s preferred 2% annual target. Analysts now think there is only about a 30% chance of a December rate cut.
Because of the shutdown, the government will not publish a separate jobs report for October. Instead, October’s data will be combined with November’s report, which will now be released on December 16, after the Fed meets.
A report from BCA Research said that while many Fed officials believe more cuts may be needed in the future, several do not think a December cut is necessary. Some members were undecided even about the October cut.
Other private reports on the job market have been mixed. Most still show that the labor market is slowing down, but the overall economy is still growing. Economists expect growth to be slower in the last three months of the year.
If the Fed cuts interest rates again, consumers may benefit because borrowing will become cheaper. This means lower rates for mortgages, car loans, and credit cards. These rates have been rising recently because of uncertainty about what the Fed will do next.
Jake Kimmel, a senior economist at Realtor.com, said that a strong housing market depends on people feeling secure in their jobs and incomes. He said that the return of official jobs data helps show how stable the job market is, which is important for housing.
Published: 24th November 2025
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