According to a Bank of America research memorandum quoting internal Bank of America data, the number of non-farm payrolls in the US increased by 1.4% year-on-year in September, which slowed down from the 1.5% increase in August according to an unseasonally adjusted basis. Unemployment benefit payments declined year over year. After seasonal adjustments, post-tax wages for low-income households increased 4.5% year over year, down from 4.7% in August, but continued to grow faster than middle-income and high-income households. The above estimates are based on consumer deposit data compiled and anonymized by Bank of America, and calculated using a three-month moving average.

According to a Bank of America research memorandum quoting internal Bank of America data, the number of non-farm payrolls in the US increased by 1.4% year-on-year in September, which slowed down from the 1.5% increase in August according to an unseasonally adjusted basis. Unemployment benefit payments declined year over year. After seasonal adjustments, post-tax wages for low-income households increased 4.5% year over year, down from 4.7% in August, but continued to grow faster than middle-income and high-income households. The above estimates are based on consumer deposit data compiled and anonymized by Bank of America, and calculated using a three-month moving average.