Macro EconomyMedium•2 October 2026•
1 min read
US Job Growth Slows to 29,000 in September as Unemployment Rises to 4.2%
Key Facts
1US non-farm payrolls rose by only 29,000 in September, significantly missing expectations.
2The US unemployment rate rose to 4.2% as annual wage growth slowed to 3.0%.
3Employment data for July and August were revised downward by a combined 60,000 jobs.
US non-farm payrolls rose by only 29,000 in September, significantly missing expectations according to MarketPulse. The unemployment rate climbed to 4.2% as annual wage growth slowed to 3.0%, signaling a cooling labor market.
Employment data for July and August were revised downward by a combined 60,000 jobs, with July's initial gain turning into a loss of 10,000 positions. Senior Analyst Łukasz Zembik noted that weaker hiring and softer wage growth reduce pressure on the Federal Reserve to raise interest rates, as US Treasury yields fell in response to the data.