More American jobs than expected – the stock market is rising

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More American jobs than expected – the stock market is rising
Photo: Steven Senne/AP

119,000 new jobs were created outside the agricultural sector in the United States in September, the delayed report from the US Department of Labor shows.

Analysts had expected 51,000 jobs, according to a Bloomberg News report. In August, 4,000 jobs were lost, the revised figures show. At the same time, the unemployment rate rose to 4.4 percent from 4.3 percent in August.

Futures trading on the US stock exchanges is further strengthened after the figures. The Nasdaq index is now up 2 percent in pre-trade while the S&P 500 is up 1.5 percent. The fixed income market continues to price that there will likely be no interest rate cut in December.

The September jobs report has been delayed due to the US government shutdown. On Wednesday, the US Department of Labor announced that it will not report jobs data for October, but will combine the October data with the November data, which will be released on December 16.

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