usjobsdata

The U.S. labor market posted a stronger-than-expected gain of 119,000 jobs in September, even as the unemployment rate unexpectedly climbed to 4.4%, according to long-delayed government data released Thursday.The report — originally scheduled for early October — was pushed back six weeks due to the federal government shutdown, leaving markets without timely labor figures throughout a volatile period.What to KnowThe U.S. added 119,000 jobs, beating economist expectations of 50,000.The unemployment rate rose to 4.4%, above the 4.3% forecast.The shutdown-delayed jobs report arrives as markets weigh fading Fed rate-cut odds.Bitcoin held modest gains around $91,900 following strong Nvidia earnings.Next up-to-date labor data will not be released until mid-December.Delayed Report Shows Labor Market Firmer Than ExpectedThe Bureau of Labor Statistics data showed nonfarm payrolls rising by 119,000 in September. Economists had projected 50,000, following a revised 4,000-job decline in August (originally reported as a 22,000 gain).However, the unemployment rate ticked up to 4.4%, suggesting a softening in labor-market conditions despite stronger hiring.The late release complicates the near-term economic outlook, as policymakers, analysts and traders lack fresh data heading into the Federal Reserve’s final 2025 meeting.Market Reaction: Bitcoin Holds Gains, Nasdaq Futures JumpBitcoin continued to hold its modest overnight lift, trading near $91,900 after Nvidia’s strong earnings and upbeat outlook calmed jittery markets late Wednesday.U.S. equity futures extended those gains:Nasdaq futures +1.9%S&P 500 and Dow futures higher10-year Treasury yield steady at 4.11%U.S. dollar index slightly strongerThe jobs report did not materially shift sentiment, as markets had already priced out a December rate cut.Fed Rate Cut Expectations Unlikely to ChangeTraders had largely eliminated the possibility of a December interest rate cut prior to the data release, citing:the Federal Reserve’s hawkish tone in recent speechesuncertainty caused by missing labor-market dataconcerns about inflation persistenceThursday’s numbers — strong on payrolls but weaker on unemployment — are unlikely to alter those expectations.With no updated employment report arriving until mid-December, the Fed will go into its final 2025 meeting with only partial visibility into labor conditions.OutlookThe September report offers a backward-looking snapshot of a labor market that remains resilient but is showing signs of cooling at the margins. Markets now await the next batch of timely data, though it may arrive after key policy decisions are already made.For now:hiring is strongerunemployment is risingand the Fed’s December calculus remains unchangedCrypto and equities continue to take signals primarily from earnings strength, tech momentum and shifting rate expectations rather than delayed economic data.

President Donald Trump has privately urged Japanese Prime Minister Sanae Takaichi to avoid raising tensions with China, according to two Japanese government officials familiar with the matter.
The request came after Takaichi triggered one of the biggest diplomatic flare-ups between Tokyo and Beijing in years. Earlier this month, she told parliament that if China were to launch a hypothetical attack on Taiwan, Japan could respond with military action. Beijing reacted sharply, demanding that she retract the comment — something she has not done.
During a call with Takaichi on Tuesday, Trump reportedly asked her to keep things from escalating any further. One of the officials said Trump wasn’t issuing demands; rather, he was trying to prevent the situation from spiraling while he maintains a fragile trade truce with China.
The Wall Street Journal first mentioned Trump’s request, and Reuters sources later confirmed it.
Trump’s conversation with Takaichi happened right after a separate call with Chinese President Xi . According to China’s Xinhua news agency, Xi emphasized that Taiwan’s “return to China” remains central to Beijing’s long-term vision. Taiwan, which has its own government and rejects China’s sovereignty claim, has repeatedly said that reunification is simply not an option for its 23 million people.
China has also called on Washington to keep Japan in check, accusing Tokyo of risking a “revival of militarism.” In an editorial published by the Communist Party’s flagship newspaper, China argued that the U.S. and China share a responsibility to preserve the post-war international order — reminding readers that both countries once fought against Japan in World War II.
The White House, in a statement attributed to Trump, said only that America’s relationship with China is “very good,” and that this is ultimately beneficial for Japan, a close U.S. ally.
Japan’s Prime Minister’s Office declined to comment further, pointing instead to its brief official readout that merely noted the two leaders discussed U.S.–China relations.
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