Washington: The US economy added 119,000 jobs in September, surpassing market expectations.

According to Anadolu Agency, the market forecast for non-farm payrolls in September anticipated a gain of 53,000 jobs. Meanwhile, the August figure was adjusted downwards to reflect a loss of 4,000 jobs, rather than the initially reported gain of 22,000. July's figures were also revised down by 7,000 to total 72,000 jobs.

Significant job growth in September was noted in key sectors, with the healthcare industry leading the way by adding 43,000 jobs, closely matching the pace from the previous year. The social assistance sector contributed 14,000 jobs, while bars and restaurants added 37,000 positions. Conversely, the transportation and warehousing sector experienced a decline of 25,000 jobs. The federal government, after previously boosting employment significantly, saw a reduction of 3,000 jobs, contributing to a total loss of 97,000 jobs over the entire year. Professional and commercial services also reported a decrease of 20,000 jobs, largely due to a 16,000 drop in temporary assistance positions.

This report marks the end of a data drought that began in early September, coinciding with the government's unprecedented 43-day closure. It is the first BLS jobs report since the August data was released on September 5. The BLS has announced plans to release jobs data for October and November concurrently on December 9, although October's figures will exclude unemployment rate data due to the incomplete household survey caused by the government shutdown.

The non-farm job additions are a critical factor for the Federal Reserve as it considers monetary policy adjustments. A weakening job market could prompt the central bank to lower the policy rate, which currently ranges between 3.75% and 4%. According to CME FedWatch, traders on Thursday were pricing in a 41.6% probability of a 25-basis-point rate cut in December, down from a 63.8% likelihood the previous week.