U.S. employers reported adding 29,000 jobs in September, while the unemployment rate ticked up to 4.2%, according to the latest report from the U.S. Bureau of Labor Statistics. Employment rose in health care, construction, and manufacturing. The unemployment rate has remained in a narrow range of 4.1 percent to 4.3 percent since March.
A broad range of data indicates that labor market conditions have somewhat stabilized over the year. Job creation has been volatile month to month, but payroll gains have broadened to many sectors in recent months, while layoffs have remained low, and job openings have moved higher. Payroll growth has averaged about 80,000 a month in 2026, but employee confidence has been down, exacerbated by feelings of job insecurity and economic uncertainty.
Federal Reserve officials will be looking to today's report to gauge labor market strength while they simultaneously turn the balance of their attention to inflation.
Check back here later today for more analysis from labor market experts.
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