The US economy is projected to add 140K jobs in September 2024, roughly the same as 142K in August while the unemployment rate is expected to remain steady at 4.2%. Wages likely rose 0.3% month-over-month, slightly less than 0.4% in August, leaving the yearly gain unchanged at 3.8%. August payroll figures are likely to be revised upwards, in line with previous trends. September may show signs of a stable labor market, but a slowdown is anticipated for the rest of the year. The Fed projects unemployment rate to top 4.4% this year. Also, average monthly payroll growth for 2024 is 184K, a decrease from 251K in 2023 and 377K in 2022. source: U.S. Bureau of Labor Statistics
