The Bureau of Labor Statistics reports the U.S. added just 29,000 jobs in September, missing expectations. Economists were expecting a gain of 90,000 jobs.
The unemployment rate ticked up to 4.2% from 4.1% in the previous month.
CNBC on the September jobs report: “A bit of a disappointment. Expecting 90,000, comes in at 29,000. And we see two month revisions down 60,000 … average hourly earnings — this is a big miss. Big, big miss. We were expecting up three tenth. This comes in at one tenth.” pic.twitter.com/F4Op8pY7NC
— Aaron Rupar (@atrupar) October 2, 2026
July’s numbers were revised down by 31,000, from +21,000 to -10,000, and August was revised down by 29,000, from +162,000 to +133,000. With these revisions, employment in July and August combined is 60,000 lower than previously reported.
It seems the business sectors most exposed to AI cut jobs in September. The information industry lost 10,000 jobs, the financial industry lost 7,000 jobs and employment in professional and business services fell by 9,000 people.
Folks, Republicans can’t be happy about these numbers for the final jobs report before midterm elections where the economy is sitting front and center on voters’ minds.
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