US Economy Adds Weak 29,000 Jobs in September

The US Labor Department released its Nonfarm Payrolls Report for September, which showed an increase of only 29,000 jobs, falling short of the consensus estimate of 90,000. This marked the third weakest jobs report of 2026, and the unemployment rate rose to 4.2%, exceeding expectations.

Before the release, market participants had assigned a 23% likelihood to another Federal Reserve rate increase this month, but after the numbers came in, that prospect seems less likely. The Nasdaq futures climbed 1.2% in response to the underwhelming numbers, and Bitcoin hovered near $87,000 following the employment data release.

Gold appreciated more than 1% in the wake of the labor market data, while the greenback weakened against competing currencies. The benchmark 10-year Treasury yield declined seven basis points immediately after the announcement, settling at 5.17%. Market watchers had anticipated the unemployment figure would remain unchanged at 4.1% for a consecutive third month.

The Federal Reserve's upcoming policy decision is set for October 28, and financial markets will scrutinize whether central bank officials adjust their stance in light of this latest economic evidence.