TechFlow news, on November 20, according to Jinshi Data, U.S. nonfarm employment growth accelerated in September, but the unemployment rate rose to 4.4%, and previous-month job data were revised downward into negative territory, indicating that labor market conditions remain weak. The U.S. Bureau of Labor Statistics said Thursday that after nonfarm payrolls were revised down to a loss of 4,000 jobs in August, they increased by 119,000 in September. Economists surveyed by Reuters had previously expected an increase of 50,000 jobs in September following an initial August gain of 22,000. Economists estimate that the economy currently needs only 30,000 to 50,000 new jobs per month to keep up with working-age population growth, far below the approximately 150,000 needed in 2024. The unemployment rate rose from 4.3% in August to 4.4%. The growing prevalence of artificial intelligence is also eroding labor demand, with entry-level positions hit hardest, leaving recent college graduates unable to find work. Economists point out that AI is driving jobless economic growth. Some also argue that the Trump administration's trade policies have created an uncertain economic environment, weakening corporate hiring capacity—especially among small businesses.
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