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TD Securities: U.S. non-farm payrolls in September may increase by 100,000, and the unemployment rate is expected to remain stable

Nov 20, 2025 15:38:42

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According to Jinshi reports, economists generally predict that the U.S. non-farm payrolls in September will increase by 100,000, with the unemployment rate expected to remain stable at 4.3%. Analysts at TD Securities stated that with a support of 125,000 jobs added in the private sector, September's employment numbers may rebound to 100,000. Government jobs may decrease by 25,000. The average hourly wage is expected to rise by 3.7% year-on-year, consistent with the increase in August.

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