U.S. Nonfarm Payrolls Increase by Just 29,000 in September

The U.S. Bureau of Labor Statistics released a report today stating that September nonfarm payroll employment increased by only 29,000, while the unemployment rate rose to 4.2%. Employment levels across all major industries remained relatively unchanged this month.

According to the household survey, the unemployment rate was 4.2% in September, with an unemployment count of 7.1 million. Among major worker groups, the unemployment rate for Black adults rose to 7.0%, while rates for adult men, women, teenagers, White adults, Asian adults, and Hispanic/Latino workers changed very little.

Long-term unemployed persons accounted for 27.1% of total unemployed in September, with 1.9 million people out of work for at least 27 weeks or more. The labor force participation rate was 61.8%, and the employment-population ratio was 59.2%, both showing little change.

Establishment survey data showed that total nonfarm payroll employment changed little, with a gain of only 29,000 jobs in September. This is slower than the average monthly gain of 45,000 over the previous 12 months. Healthcare employment continued its growth trend but at a slower pace, while construction and manufacturing saw minimal changes.