September’s Mixed Jobs Report Complicates Fed’s December Rate Decision

The much-delayed September jobs data didn’t provide much clarity on the trajectory of the labor market heading into the government shutdown—further complicating the Fed’s final interest-rate decision for the year. With such a mixed picture, Fed policymakers are still more likely to keep interest rates steady rather than lower them when they meet next month. On balance, the report showed that although job demand has clearly continued to be weak, the U.S. labor market isn’t in imminent danger of collapsing.