The non farm payroll just announced on Friday was only a meager 12000 yuan. Despite the impact of two major hurricanes and the Boeing strike, this number completely shattered market expectations (113000). What's even more interesting is that the unemployment rate has risen from 4.05% to 4.14%, rounded to "4.1%". For the capital market, it is also happy to see data consolidating the Fed's interest rate cut cycle. For Wall Street analysts, Friday's data was more of a "one-time surprise" and they couldn't chew on more insights about the economy and interest rate cuts.