US hiring slows, unemployment rises
6m
U.S. employers added 29,000 jobs in September, far below economists’ expectations, while unemployment edged up to 4.2%, signaling a cooling labor market.
by Justin Wolfers Reposted by Daniel W. Drezner, Scott A. Imberman
An all around weak -- but not tragic -- payrolls report for September.
+29k jobs created, about 60k below expectations. Revisions made both July and August look weaker, too. Over the past 3 months, we've an average of a mere +17k per month.
+29k jobs created, about 60k below expectations. Revisions made both July and August look weaker, too. Over the past 3 months, we've an average of a mere +17k per month.
October 2, 2026 at 12:39 PM
An all around weak -- but not tragic -- payrolls report for September.
+29k jobs created, about 60k below expectations. Revisions made both July and August look weaker, too. Over the past 3 months, we've an average of a mere +17k per month.
+29k jobs created, about 60k below expectations. Revisions made both July and August look weaker, too. Over the past 3 months, we've an average of a mere +17k per month.
Today's jobs report is a reminder that tax cuts for corporations and the rich don’t create jobs or grow the economy.
What's required is investment in working people — and better wages.
When workers have money to spend, the economy grows and businesses create more jobs.
Remember this.
What's required is investment in working people — and better wages.
When workers have money to spend, the economy grows and businesses create more jobs.
Remember this.
October 2, 2026 at 3:09 PM
Today's jobs report is a reminder that tax cuts for corporations and the rich don’t create jobs or grow the economy.
What's required is investment in working people — and better wages.
When workers have money to spend, the economy grows and businesses create more jobs.
Remember this.
What's required is investment in working people — and better wages.
When workers have money to spend, the economy grows and businesses create more jobs.
Remember this.
FYI: Some of the links from this morning's conversation on Yahoo Finance.
finance.yahoo.com/video/jobs-r...
finance.yahoo.com/video/theres...
#economy #markets #jobs #FederalReserve #employment
finance.yahoo.com/video/jobs-r...
finance.yahoo.com/video/theres...
#economy #markets #jobs #FederalReserve #employment
The jobs report 'definitely' puts the Fed on hold for October: Mohamed El-Erian explains
The US labor market grew by 29,000 nonfarm payroll jobs in the month of September, according to the US Bureau of Labor Statistics (BLS) — far below economists' forecasts of 90,000.The unemployment rat...
finance.yahoo.com
October 2, 2026 at 5:04 PM
FYI: Some of the links from this morning's conversation on Yahoo Finance.
finance.yahoo.com/video/jobs-r...
finance.yahoo.com/video/theres...
#economy #markets #jobs #FederalReserve #employment
finance.yahoo.com/video/jobs-r...
finance.yahoo.com/video/theres...
#economy #markets #jobs #FederalReserve #employment
I'm not sure who saw this coming, but so far nearly all the jobs created during the second Trump administration have gone to women.
October 2, 2026 at 1:09 PM
I'm not sure who saw this coming, but so far nearly all the jobs created during the second Trump administration have gone to women.
by Menzie Chinn
Employment downside surprise, but maybe enough for breakeven? Household survey shows employment below Jan '25 levels #EconSky
econbrowser.com/archives/202...
econbrowser.com/archives/202...
October 2, 2026 at 5:55 PM
Employment downside surprise, but maybe enough for breakeven? Household survey shows employment below Jan '25 levels #EconSky
econbrowser.com/archives/202...
econbrowser.com/archives/202...
Reposted by Greg Linden, Trevon D. Logan
CNN on the last jobs report before the midterms: "It came in cold -- surprisingly cold. Job growth weaker than expected, unemployment unexpectedly went up, and paychecks aren't keeping up with prices. This was disappointing all around."
October 2, 2026 at 12:57 PM
CNN on the last jobs report before the midterms: "It came in cold -- surprisingly cold. Job growth weaker than expected, unemployment unexpectedly went up, and paychecks aren't keeping up with prices. This was disappointing all around."
Ugh, a math error! Apologies. Over the past three months, we've had jobs growth of +29k, +133k, and -10k, which averages to +51k jobs per month.
October 2, 2026 at 1:45 PM
Ugh, a math error! Apologies. Over the past three months, we've had jobs growth of +29k, +133k, and -10k, which averages to +51k jobs per month.
Reposted by David Darmofal
DUN DUN DUN -- Fox Business on the September jobs report: "The numbers do not look good. I'm looking at 29,000 jobs added. That is well below expectations for 90,000, and our unemployment rate jumps up to 4.2%. A significant slowdown."
October 2, 2026 at 12:38 PM
DUN DUN DUN -- Fox Business on the September jobs report: "The numbers do not look good. I'm looking at 29,000 jobs added. That is well below expectations for 90,000, and our unemployment rate jumps up to 4.2%. A significant slowdown."
by Justin Wolfers Reposted by Aaron Sojourner
Pro-tip: Seasonal blips like this distort month-to-month changes in jobs, leading July to look particularly weak and August to look strong. That's why taking a three-month average is often your best bet.
October 2, 2026 at 1:14 PM
Pro-tip: Seasonal blips like this distort month-to-month changes in jobs, leading July to look particularly weak and August to look strong. That's why taking a three-month average is often your best bet.
Reposted by David Darmofal, Juan Cole
BREAKING: U.S. employers added a disappointing 29,000 jobs last month, and the unemployment rate ticked up to 4.2% ahead of the November midterms.
US adds disappointing 29,000 jobs and unemployment ticks up to 4.2% in September
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 high cost of living and the state of the economy.
bit.ly
October 2, 2026 at 12:43 PM
BREAKING: U.S. employers added a disappointing 29,000 jobs last month, and the unemployment rate ticked up to 4.2% ahead of the November midterms.
Reposted by David Darmofal
The US added only 29,000 jobs in September, far below the expected 84,000.
Unemployment also rose to 4.2%.
Unemployment also rose to 4.2%.
October 2, 2026 at 1:24 PM
The US added only 29,000 jobs in September, far below the expected 84,000.
Unemployment also rose to 4.2%.
Unemployment also rose to 4.2%.
by John Collins
29,000 jobs added for September.
Just shy of the 90,000 projected.
Just shy of the 90,000 projected.
October 2, 2026 at 3:52 PM
29,000 jobs added for September.
Just shy of the 90,000 projected.
Just shy of the 90,000 projected.
+29K jobs gained last month (mid-Aug to mid-Sept).
-60K jobs in revisions of prior 2 months.
The big picture
-60K jobs in revisions of prior 2 months.
The big picture
October 2, 2026 at 12:32 PM
+29K jobs gained last month (mid-Aug to mid-Sept).
-60K jobs in revisions of prior 2 months.
The big picture
-60K jobs in revisions of prior 2 months.
The big picture
Reposted by Aaron Sojourner, Scott A. Imberman
U.S. employers added 29,000 jobs in September and the unemployment rate ticked up to 4.2 percent.
Data: www.bls.gov/news.release...
Full coverage: www.nytimes.com/live/2026/10...
#EconSky #NumbersDay
Data: www.bls.gov/news.release...
Full coverage: www.nytimes.com/live/2026/10...
#EconSky #NumbersDay
Employment Situation Summary
- 2026 M09 Results
www.bls.gov
October 2, 2026 at 12:31 PM
U.S. employers added 29,000 jobs in September and the unemployment rate ticked up to 4.2 percent.
Data: www.bls.gov/news.release...
Full coverage: www.nytimes.com/live/2026/10...
#EconSky #NumbersDay
Data: www.bls.gov/news.release...
Full coverage: www.nytimes.com/live/2026/10...
#EconSky #NumbersDay
Reposted by David Darmofal
CNBC on the September jobs report: "A bit of a disappointment. Expecting 90,000, comes in at 29,000. And we see two month revisions down 60,000 ... average hourly earnings -- this is a big miss. Big, big miss. We were expecting up three tenth. This comes in at one tenth."
October 2, 2026 at 12:48 PM
CNBC on the September jobs report: "A bit of a disappointment. Expecting 90,000, comes in at 29,000. And we see two month revisions down 60,000 ... average hourly earnings -- this is a big miss. Big, big miss. We were expecting up three tenth. This comes in at one tenth."
What a pathetic fact-less bit of spin.
Changing jobs is the strongest vehicle for increasing your wage, and that's now largely off the table in this lackluster job market.
Changing jobs is the strongest vehicle for increasing your wage, and that's now largely off the table in this lackluster job market.
October 2, 2026 at 5:24 PM
What a pathetic fact-less bit of spin.
Changing jobs is the strongest vehicle for increasing your wage, and that's now largely off the table in this lackluster job market.
Changing jobs is the strongest vehicle for increasing your wage, and that's now largely off the table in this lackluster job market.
Here’s the US Treasury market reaction to the soft jobs report.
Note the continued retracement in 2-year yields as traders moderate Fed rate hike expectations.
The next major data catalyst here will be CPI inflation on October 14th.
(Bloomberg data below.)
#economy #markets #bonds #inflation
Note the continued retracement in 2-year yields as traders moderate Fed rate hike expectations.
The next major data catalyst here will be CPI inflation on October 14th.
(Bloomberg data below.)
#economy #markets #bonds #inflation
October 2, 2026 at 1:10 PM
Here’s the US Treasury market reaction to the soft jobs report.
Note the continued retracement in 2-year yields as traders moderate Fed rate hike expectations.
The next major data catalyst here will be CPI inflation on October 14th.
(Bloomberg data below.)
#economy #markets #bonds #inflation
Note the continued retracement in 2-year yields as traders moderate Fed rate hike expectations.
The next major data catalyst here will be CPI inflation on October 14th.
(Bloomberg data below.)
#economy #markets #bonds #inflation
Job growth may be decelerating:
+41 K/mo over most-recent 12 months
+66 K/mo over most-recent 6 months
+51 K/mo over most-recent 3 months
+29 K this past month
Huge amounts of uncertainty reduces businesses’ willingness to invest in jobs
+41 K/mo over most-recent 12 months
+66 K/mo over most-recent 6 months
+51 K/mo over most-recent 3 months
+29 K this past month
Huge amounts of uncertainty reduces businesses’ willingness to invest in jobs
October 2, 2026 at 12:36 PM
Job growth may be decelerating:
+41 K/mo over most-recent 12 months
+66 K/mo over most-recent 6 months
+51 K/mo over most-recent 3 months
+29 K this past month
Huge amounts of uncertainty reduces businesses’ willingness to invest in jobs
+41 K/mo over most-recent 12 months
+66 K/mo over most-recent 6 months
+51 K/mo over most-recent 3 months
+29 K this past month
Huge amounts of uncertainty reduces businesses’ willingness to invest in jobs