Job Growth Moderates as Labor Market Remains Stable
Nonfarm payroll, employment in all major industries and the unemployment rate “changed little” in September, the Bureau of Labor Statistics (BLS) said Friday (Oct. 2) in its latest employment situation summary. Media reports characterized the numbers as a continuation of the “low hire, low fire” trend in the economy. According to the BLS summary, total nonfarm […] The post Job Growth Moderates as…
In September, U.S. nonfarm payroll employment rose by a modest 29,000, falling short of the typical monthly increase of 45,000 over the previous year, according to the Bureau of Labor Statistics (BLS). The unemployment rate remained steady at 4.2%, unchanged from the previous month, and continued to sit within the narrow range of 4.1% to 4.3% since March.
The number of unemployed individuals also remained consistent at 7.1 million. Media outlets described the job growth figures as "anemic" and "low hire, low fire," but acknowledged that higher hiring may not be necessary to maintain a low unemployment rate. The BLS noted that aging demographics and reduced immigration have contributed to the decreased demand for new jobs.
The labor market conditions are considered generally healthy, with payrolls not underperforming due to Labor Day falling later in September. Healthcare, construction, and manufacturing industries saw slight gains, while financial activities experienced a decline, down by 7,000 jobs since peaking in May 2025.
Written by urgent.news from PYMNTS's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
