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U.S. nonfarm payrolls increase by 29,000 in September, less than expected; unemployment rises to 4.2%
- On Friday, the Bureau of Labor Statistics reported U.S. employers added just 29,000 jobs in September, missing economist forecasts of roughly 90,000. The unemployment rate rose to 4.2% from 4.1%, while July and August payrolls were revised down by a combined 60,000 jobs.
- Economists describe a persistent 'low-hire, low-fire' labor market where employers maintain headcount rather than expand. This stagnation reflects a broader two-year trend of stalled gross hiring, leaving jobseekers struggling despite low layoff rates among those already employed.
- Health care added 17,000 jobs in September while the financial sector shed 7,000, illustrating sector divergence. Average hourly earnings rose 3% over the past year, failing to keep pace with inflation near 3.4%, squeezing household purchasing power.
- Treasury yields fell to 5.17% on Friday as traders pared rate-hike bets. The CME FedWatch tool showed odds for an October Federal Reserve rate increase dropped to 17%, down from nearly 70% a week prior.
- The data arrives one month before November 3 midterm elections amid heightened economic anxiety. The Conference Board reported consumer confidence recently fell to a ten-year low, reflecting public concerns over job security and the cost of living.
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US job growth slows in September
Job growth slowed in the United States last month. According to the Bureau of Labor Statistics, the US economy added 29,000 jobs in September, which is much lower than predicted. The unemployment rate rose slightly to 4.2 percent, but analysts
·Beijing, China
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The Philadelphia TribuneReposted by 
KEZI 9 News
KEZI 9 NewsBlack unemployment just rose at its fastest pace since Covid
Cherry-picking one data point from a monthly economic report is neither fair nor necessarily telling. But one statistic stood out in September’s mostly “meh” jobs report like a sore thumb.
·Philadelphia, United States
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Coverage Details
Total News Sources533
Leaning Left99Leaning Right71Center189Last UpdatedBias Distribution53% Center
Bias Distribution
- 53% of the sources are Center
53% Center
L 27%
C 53%
R 20%
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