U.S. Nonfarm Payrolls Rose 119,000 in September; Unemployment Rate Climbed to 4.4%

The U.S. added 119,000 nonfarm payrolls in September, while the unemployment rate increased to 4.4% from 4.3% in August, the Bureau of Labor Statistics reported Thursday. August payrolls were revised to show a loss of 4,000 jobs. Economists surveyed by Reuters had forecast 50,000 jobs added for September. Jin10 reports the economy now requires only 30,000 to 50,000 monthly job additions to accommodate working-age population growth, down from approximately 150,000 needed in 2024.