Unemployment ticks up to 4.2% as US adds disappointing 29,000 jobs in September
Oct 02, 2026
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 in pivotal midterm elections at a time of discontent over the
high cost of living and the state of the economy.Hiring dropped from a revised 133,000 in August, the Labor Department reported. The unemployment rose to a still-low 4.2% from 4.1% in AugustEconomists had expected September payrolls to come in at 90,000.RELATED STORY | Skilled trades face worker shortage as industries recruit the next generationThe U.S. job market has proven solid in the face of a series of shocks trade wars, persistent inflation, high interest rates and a conflict with Iran that has driven energy prices higher. Friday's jobs report is the last one that will come out before Nov. 3 elections that will determine whether President Donald Trump's Republicans maintain full control of Congress.Futures for the SP 500 and Nasdaq composite added to their gains after the data was released, while Treasury yields moved lower. The yield on the 10-year Treasury was 5.17%, down from 5.24% a day earlier.
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