September Jobs Report Misses: US Economy Adds 29,000 Jobs
The U.S. economy added 29,000 nonfarm payrolls in September, well below the 90,000 economists had expected, the Bureau of Labor Statistics said Friday. The unemployment rate came in at 4.2%, above the 4.1% consensus. Wage growth also undershot forecasts. Average hourly earnings rose 0.1% month-over-month, versus 0.3% expected, and 3% year-over-year, versus 3.2% expected. Prior to the employment report, Fed futures had priced in only a 23% chance of a 25-basis-point rate hike this month. Revisions Make The Picture Weaker The previous two months were revised lower. August payrolls were cut to 133,000 from 162,000. July went from a gain of 21,000 to a loss of 10,000. Together, July and August now show 60,000 fewer jobs than first reported. Over the past 12 months, the economy has added an average of 45,000 jobs per month. Health care added 17,000 jobs, about half its 12-month average of 33,000. Construction added 11,000 and manufacturing 9,000. Financial activities lost 7,000 jobs and are down 129,000 since May 2025. Stocks Rally As Rate Hike Bets Fade Before the report, Fed futures priced only a 23% chance of a 25-basis-point rate hike this month. After the release, that chance fell
Story updates
S. economy added 29,000 nonfarm payrolls in September, well below the 90,000 economists had expected, the Bureau of Labor Statistics said Friday. 1% consensus. Wage growth also undershot forecasts.
2% expected. Prior to the employment report, Fed futures had priced in only a 23% chance of a 25-basis-point rate hike this month. Revisions Make The Picture Weaker The previous two months were revised lower. August payrolls were cut to 133,000 from 162,000.
July went from a gain of 21,000 to a loss of 10,000. Together, July and August now show 60,000 fewer jobs than first reported. Over the past 12 months, the economy has added an average of 45,000 jobs per month. Health care added 17,000 jobs, about half its 12-month average of 33,000.
Construction added 11,000 and manufacturing 9,000. Financial activities lost 7,000 jobs and are down 129,000 since May 2025. Stocks Rally As Rate Hike Bets Fade Before the report, Fed futures priced only a 23% chance of a 25-basis-point rate hike this month. After the release, that chance fell to 13%, according to CME FedWatch.
Stocks rallied as expectations for Fed tightening collapsed. m. 78 in premarket trading. 43%.
88%. 72%. 57%, down 4 basis points. 60.
87% to $4,211 an ounce. 40 a barrel. Bitcoin (CRYPTO: BTC) traded at $X. This is a developing story…