The American economy appears to be soft-landing. Inflation is falling and the labor market seems to be holding up.
The overall picture looks stronger than it has previously, says Elisabet Kopelman.
Employment increased by 254,000 jobs, excluding the agricultural sector, in September, according to new figures from the labor market department. In August, job growth was 159,000.
The unemployment rate fell to 4.1 percent, from 4.2 percent the previous month. Economists had on average expected 150,000 new jobs and an unemployment rate of 4.2 percent.
This is a thoroughly strong report and this will further calm fears that the US is heading into a recession.
The figures can be interpreted as the American central bank, the Federal Reserve (Fed), not having to rush as much as before to lower interest rates.
You shouldn't remove expectations of interest rate cuts from the Fed, they have a very high interest rate. But the pressure on them to take big steps is decreasing, says Elisabet Kopelman.
From a Swedish perspective, the American job figures are also good news.
It's good for the open export-dependent economy that Sweden is if the US avoids a recession.
The figures from the US strengthen the dollar against the krona by seven öre to 10.37.
On the stock markets, a sigh of relief is drawn that the American economy is holding up. The Stockholm stock exchange rises by half a percent and in the US, prices are rising in early trading.
