U.S. nonfarm payrolls increase by 29,000 in September, less than expected; unemployment rises to 4.2%
Hiring slowed sharply as prior months were revised down by 60,000 jobs and average hourly earnings rose just 3% from a year earlier.
- On October 2, 2026, the Bureau of Labor Statistics reported U.S. employers added just 29,000 jobs in September, missing forecasts of 90,000. The unemployment rate rose to 4.2%, and payrolls for July and August were revised down by a combined 60,000 jobs.
- Economists described a persistent 'low-hire, low-fire' labor market where companies avoid layoffs while significantly reducing new hiring. This environment explains why September payrolls missed the 90,000-job expectation despite stable employment for existing workers.
- Health care added 17,000 jobs in September, while the financial sector shed 7,000, illustrating sectoral divergence. Average hourly earnings rose 3% over the past year, failing to keep pace with inflation pressuring household budgets.
- Treasury yields fell to 5.17% on Friday, while the CME FedWatch tool showed odds for an October Federal Reserve rate hike dropped to 17%. Markets priced in expectations that policymakers will hold rates steady.
- With midterm elections approaching on November 3, the report arrives amid public anxiety over job security. The Conference Board reported consumer confidence recently fell to a ten-year low, reflecting widespread concerns about employment stability and living costs.
454 Articles
454 Articles
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The New York LedgerU.S. hiring slows, unemployment ticks higher with a month remaining before Americans head to polls
WASHINGTON — U.S. employers added a disappointing 29,000 jobs and the unemployment rate ticked up last month, the government reported Friday, a month before voters go to the polls in pivotal midterm elections at a time of discontent over the…
U.S. Economy Adds 29K Jobs, Unemployment 4.2 Percent in September
The U.S. economy added 29,000 jobs in September, according to a new report from the Bureau of Labor Statistics. The unemployment rate remained at 4.2%, showing little change from previous months. The September report shows an economy with signs of slowing, following an average monthly gain of 45,000 over the last year.
Private Sector Adds 46,000 Jobs As Government Payrolls Shrink
Private employers added 46,000 jobs in September, while government payrolls fell by 17,000. The U.S. economy gained 29,000 jobs overall, according to federal figures released Friday. The Bureau of Labor Statistics released the figures in its September employment report. The unemployment rate edged up to 4.2% from 4.1% in August, though the agency described the […]
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