{
  "id": 11448588,
  "title": "US adds only 29,000 new jobs in September, missing analysts’ expectations by a lot",
  "url": "https://urgent.news/2026/10/02/us-adds-only-29-000-new-jobs-in-september-missing-analysts",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-02T13:27:00.000Z",
  "source": {
    "name": "Straits Times Business",
    "slug": "straits-times-business",
    "url": "https://www.straitstimes.com/business/us-adds-only-29000-new-jobs-in-september-missing-analysts-expectations-by-a-lot"
  },
  "original_language": "en",
  "account": "The United States added a mere 29,000 new jobs in September, falling short of market projections. The unemployment rate ticked up slightly to 4.2%. The Bureau of Labor Statistics (BLS) also revised down job figures for July and August by a combined 60,000, revealing that the economy shed jobs in those months rather than gaining them. The data arrives on the heels of key midterm elections in November, during which President Donald Trump's Republican Party will face scrutiny over his economic stewardship. Employment in the healthcare sector grew by 17,000, helping bolster the labor market. However, job growth in healthcare was slower than its yearly average of 33,000. Construction added 11,000 jobs and manufacturing produced 9,000. Meanwhile, the financial sector continued its decline, shedding 7,000 positions and its total losses from a recent May 2025 peak reaching 129,000. Average hourly earnings for all workers rose by 3%, but wages continue to trail high inflation, leaving most workers with real wage losses. Democratic Senator Elizabeth Warren criticized Trump's economic performance, noting that paychecks are growing at their sluggishest rate in nearly seven years since Trump assumed office in January 2025, with real wages falling 0.7% amid his administration's price hikes. The Federal Reserve, tasked with curbing inflation at a 2% long-term goal while fostering maximum employment, raised interest rates in September by a quarter percentage point to 3.75%-4%, the first hike in three years. The Fed has been monitoring the labor market closely, but any signs of weakness could prompt policymakers to reassess their stance. Fed officials have signaled the possibility of no further rate hikes at their October meeting, though markets anticipate additional increases before year-end.",
  "summary": "Statistics also revised down for July and August by a combined 60,000 jobs.",
  "key_points": [
    "US added only 29,000 new jobs in September, below expectations",
    "Unemployment rate rose to 4.2% after September job report",
    "Fed raised interest rates to 3.75%-4% amid economic data"
  ],
  "editors_take": null,
  "illustration": "https://urgent.news/ill/11448588.png",
  "coverage": {
    "outlets": 5,
    "also_reported_by": [
      {
        "outlet": "Quartz",
        "title": "Wall Street futures rise ahead of September jobs report as oil extends losses",
        "url": "https://urgent.news/2026/10/02/wall-street-futures-rise-ahead-of-september-jobs-report-as-oil",
        "published": "2026-10-02T11:30:36.000Z"
      },
      {
        "outlet": "CoinDesk",
        "title": "U.S. added just 29,000 jobs in September, with unemployment rate rising to 4.2%",
        "url": "https://urgent.news/2026/10/02/u-s-added-just-29-000-jobs-in-september-with-unemployment-rate-rising",
        "published": "2026-10-02T12:31:53.000Z"
      },
      {
        "outlet": "CNBC",
        "title": "Labor market faltered in September as jobs increased by just 29,000, unemployment rate rose to 4.2%",
        "url": "https://urgent.news/2026/10/02/labor-market-faltered-in-september-as-jobs-increased-by-just-29-000",
        "published": "2026-10-02T12:41:27.000Z"
      },
      {
        "outlet": "BBC Business",
        "title": "US jobs market sees sharp slowdown in September",
        "url": "https://urgent.news/2026/10/02/us-jobs-market-sees-sharp-slowdown-in-september",
        "published": "2026-10-02T13:12:26.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}