The delayed September jobs report showed employers added 119,000 jobs, far above the roughly 50,000 economists had expected. The report was released late because the government shutdown disrupted normal work and delayed the data. Despite the delay, the stronger-than-expected numbers suggest the economy may be doing better than many thought.
August’s figure was revised, too: an initial gain of 22,000 jobs was changed to a loss of 4,000, highlighting the uncertainty in data during the shutdown. The unemployment rate rose slightly to 4.4% from 4.3% the prior month.
Industry results varied. Health care added 43,000 jobs, continuing recent strong growth. Restaurants and bars added 37,000 jobs. Transportation and warehousing lost 25,000 jobs, a drop possibly linked to concerns about President Donald Trump’s import tariffs and trade effects. Federal government employment fell by 3,000; federal employment has declined by 97,000 since January. The government says the report does not fully reflect furloughs and other cuts that were to begin at the end of September.
Many economists were surprised by the report. Alexander Guiliano, founder of Resonate Wealth Partners, called it “much stronger than expected,” and said the Federal Reserve may take more time before any December interest-rate decision. Because the shutdown delayed key economic data, many expect the Fed to be cautious and wait for clearer information. Guiliano said the report indicates “the labor market is not as weak as feared.”
Last month the Fed cut interest rates by a quarter point, citing a weakening labor market among other reasons. Whether they will cut again in December is unclear. Fed meeting notes showed many members worry another cut could raise inflation, which remains above the Fed’s 2% target. Analysts place the odds of a December cut at roughly 30%.
Due to the shutdown, the government will not publish a separate October jobs report; October and November data will be combined and released December 16, after the Fed meets.
BCA Research noted that while many Fed officials see more cuts possibly needed later, several do not view a December cut as necessary, and some were undecided even about the October move.
Private-sector reports have sent mixed signals: most show a slowing labor market, though the broader economy continues to grow. Economists expect growth to slow in the final quarter of the year.
If the Fed cuts again, consumers could benefit from cheaper borrowing—lower mortgage, auto loan, and credit-card rates—after recent rate increases driven by uncertainty about Fed policy.
Jake Kimmel, senior economist at Realtor.com, said a strong housing market depends on job and income security, and the return of official jobs data helps demonstrate labor-market stability, which is important for housing.
Published: 24th November 2025
For more such articles, please follow us on Twitter, Linkedin & Instagram
Also Read:
How Protected Are You From Debit Card Fraud?
How Leadership Shapes Trust in High-Touch Industries
How Rising Leaders Can Develop Winning Negotiation Skills
