{
  "id": 11480472,
  "title": "U.S. job growth slowed, unemployment ticked up last month as midterms near",
  "url": "https://urgent.news/2026/10/02/u-s-job-growth-slowed-unemployment-ticked-up-last-month-as-midterms",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-02T16:27:05.000Z",
  "source": {
    "name": "Global News",
    "slug": "global-news",
    "url": "https://globalnews.ca/news/12085414/us-jobs-report-september-2026/"
  },
  "original_language": "en",
  "account": "U.S. employers added only 29,000 jobs in September, according to the government's report, falling short of expectations and contributing to a rise in the unemployment rate. The unemployment rate increased slightly to 4.2 percent from 4.1 percent in August, even though 485,000 people entered the workforce. Economists had anticipated around 90,000 new jobs for the month. Labor Department revisions also lowered total payrolls from July and August by 60,000 jobs.\n\nDespite the weaker job market, the Fed may be inclined to keep interest rates unchanged when meeting next month, as the primary focus is combating inflation. The average hourly wage grew by just three percent year-over-year, the smallest increase since May 2021. Unemployment remains low, but the Fed is concerned about elevated prices, which have been above the central bank's two percent target for over five years.\n\nHealthcare companies added 17,000 jobs in September, but this was only half the average monthly growth of the past year. The slowdown in healthcare hiring might be due to the revocation of work authorizations for 350,000 Haitians by the Trump administration. Construction and manufacturing sectors added 11,000 and 9,000 jobs, respectively.\n\nThe U.S. job market has shown resilience amidst various shocks, including trade wars, persistent inflation, high interest rates, and a conflict with Iran. The report is the last one before the Nov. 3 elections, which will determine whether Republicans maintain full control of Congress. Wall Street welcomed the data, with futures for the S&P 500 and Nasdaq composite rising, and Treasury yields moving lower.\n\nHowever, the optimism on Wall Street contrasts starkly with the concerns on Main Street. A recent poll found that only 17 percent of U.S. adults approve of Trump's handling of the cost of living, while just 26 percent approve of his handling of the economy, marking a new low. U.S. consumer confidence dropped to the lowest level in over a decade, with many expecting fewer job opportunities in the coming months. Glassdoor's employee confidence index also hit a record low, reflecting workers' anxiety about layoffs, AI, and job availability.",
  "summary": "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.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "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."
}