US economy: Mixed labour and inflation picture – NBC Economics and Strategy
NBC Economics and Strategy highlights that U.S. nonfarm payrolls rose just 29K in September versus a 90K consensus, while the household survey showed a 406K employment surge and a 4.2% unemployment rate. Q2 real GDP was revised up to 2.2% annualized. The headline PCE deflator stayed at 3.4% and core at 3.0%, both below expectations due partly to methodology changes.
The U.S. nonfarm payrolls rose by just 29,000 in September, falling short of the 90,000 estimated. However, the household survey revealed a more robust employment surge of 406,000, with the unemployment rate remaining steady at 4.2%. Q2 real GDP experienced a revision upward to 2.2% annualized, surpassing the initial estimate of 1.5%. The headline PCE deflator remained at 3.4%, while the core measure stayed unchanged at 3.0%, both below expectations due to methodology changes.
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