The September employment report released by the Bureau of Labor Statistics (BLS) showed stronger-than-expected job growth in the United States. The report was delayed for nearly two months due to the government shutdown. Data show that 119,000 jobs were added in September, the largest increase since April. This number far exceeded economists' previous estimate of 50,000 and covers only the month before the government shutdown started on October 1. However, due to the data delay, subsequent revisions are still needed, making it difficult to clearly assess the true state of the U.S. economy. The Bureau of Labor Statistics also significantly revised the employment data for the summer this year. After revision, 4,000 jobs were reduced in August; July's data were also downgraded by 7,000. Overall, the revisions for these two months indicate a reduction of 33,000 more jobs than previously reported.

The delayed release of the data has made it difficult to determine the actual performance of the job market. Data from the private sector and other alternative sources paint a more worrying picture, showing that many families' consumption is weakening, while rising prices remain stubborn. At the same time, the Bureau of Labor Statistics said that part of the October employment data will be released along with November data on December 16. But this release schedule may cause trouble for the Federal Reserve. Federal Reserve officials will hold a two-day meeting from December 9 to 10 to discuss whether to cut interest rates. However, the growing divisions among decision-makers are already evident. Even if they decide to cut rates, concerns about persistent inflation may lead policymakers to take a longer period of waiting than originally expected. This will also make Trump more dissatisfied with Powell, as Trump has publicly hinted twice this week that he might consider removing him. Despite Trump's recent claim that the U.S. economy is in a "golden age" of low prices, multiple recent polls show that high prices still trouble most Americans, and Trump's support on economic issues is declining.

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Original: www.toutiao.com/article/1849381282593034/

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