The US Bureau of Labor Statistics (BLS) released the latest labor market data after delays caused by the federal government shutdown from October 1 to November 12, 2025. As a result, the October 2025 unemployment rate was not published, as the BLS was unable to conduct the household survey during the shutdown period. The latest data releases point to a softening US labor market, though developments remain uneven across indicators. While the unemployment rate rose sharply and wage growth moderated on a year-on-year basis, Nonfarm Payrolls (NFP) rebounded in November 2025.