September jobs report shows stronger-than-expected private sector gains
49 sourcesUpdated Oct 5, 20261 min read
The September U.S. jobs report showed payrolls rising by just 29,000, well below forecasts, while revisions cut July and August employment by a combined 60,000. Unemployment edged up to 4.2%, though labor-force participation and the employment-to-population ratio improved slightly; wage growth also slowed, adding to signs of a cooling labor market. A separate ADP report indicated private employers added 90,000 jobs, highlighting differences between the private-sector estimate and the weaker government payroll figures. The data may strengthen expectations that the Federal Reserve will hold interest rates steady at its next meeting. Coming shortly before the midterms, the report is also drawing political attention as voters focus on jobs, wages and affordability.
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Left· 9 sources
“US growth remains strong but job creation slows”Center· 6 sources
“US adds nonfarm jobs to September job report”Right· 2 sources
“Job report showcases slowed hiring and wage growth”Stronger hiring should help ease some pressure on household budgets soon.
These numbers look solid but I wonder how much of it is seasonal hiring.
It's encouraging to see private companies adding more jobs than forecast this month.
