Oct 02, 2026
WASHINGTON (AP) — U.S. employers added a disappointing 29,000 jobs and the unemployment rate ticked up last month, the government reported Friday, a month before voters go to the polls in pivotal midterm elections at a time of discontent over the high cost of living and the state of the economy. H iring dropped from a revised 133,000 in August, the Labor Department reported. The unemployment rate rose to a still-low 4.2% from 4.1% in August, Economists had expected September payrolls to come in at 90,000. Labor Department revisions also shaved 60,000 jobs off combined July and August payrolls. Average hourly wages were up just 3% last year from a year earlier — smallest year-over-year gain since May 2021. The U.S. job market has proven resilient in the face of a series of shocks — trade wars, persistent inflation, high interest rates and a conflict with Iran that has driven energy prices higher. Friday’s jobs report is the last one that will come out before the Nov. 3 elections that will determine whether President Donald Trump’s Republicans maintain full control of Congress. U.S. consumer confidence dropped this month to the lowest level in more than a decade, according to an index published by the Conference Board. One reason: More than 28% of the respondents told the business think tank that they expect fewer jobs to be available in six months, double the 14% who expect more. The public’s misgivings about jobs partly reflect an odd feature of the current labor market: Employers aren’t laying off many workers, but they aren’t hiring many either. A Labor Department measure of gross hiring – before subtracting those who quit or lose their jobs – has been stuck in a rut for more than two years. ...read more read less
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