US Jobs Report: Employment market is relatively solid, but warning signs remain

While most employment market metrics have weakened, as opposed to indicating an imminent recession, they have instead only broadly fallen back to pre-COVID levels - but warning signs still remain.

Unemployment rate & aggregate employment measures indicate a relatively strong employment market

The unemployment rate remained unchanged at 3.8% in September, which while historically low (the monthly average since 1948 is 5.7%), this is above levels that have generally been seen since 2022.