Forex
US Labor Market Stalls with Just 29K Jobs Added in September
The U.S. labor market showed signs of weakness in September, as nonfarm payroll employment rose by just 29,000 jobs. This figure fell far short of economists' expectations, which had projected an addition of 89,000 jobs. The data marks a significant slowdown compared to August's gain of 133,000 jobs.
The unemployment rate ticked up slightly to 4.2% in September, while the broader U6 unemployment rate, which includes discouraged workers and those marginally attached to the labor force, declined to 7.6%. The labor force participation rate saw a modest increase, rising from 61.6% in August to 61.8%.
The underwhelming job growth could signal a cooling labor market, raising concerns about economic momentum heading into the final quarter of 2026.