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September jobs report: U.S. adds 29,000 jobs, unemployment 4.2%

financeOct 2, 2026745,727

The U.S. economy added just 29,000 jobs in September while the unemployment rate rose to 4.2 percent, the Bureau of Labor Statistics reported. Economists surveyed by Dow Jones had expected an 84,000 gain; August payrolls were revised down to a 133,000 increase. The weak print sent benchmark Treasury yields lower: the 10-year yield fell to 5.214 percent, the 30-year to 5.57 percent, and the 2-year held at 4.789 percent. Markets priced a much higher probability that the Federal Reserve will hold rates at its October meeting, with CME Group’s FedWatch tool showing traders now see an 84 percent chance of no October hike. Lindsay Rosner, head of multi-sector fixed income at Goldman Sachs Asset Management, said the report argues against the labor market retightening and left one follow-up hike in December as her base case. Eased pressure on global government bonds followed the U.S. sell-off earlier in the week, as investors reassessed the path for interest rates amid persistent inflation concerns.

Aaron Rupar
@atrupar.com

Kevin Hassett responds to a bad September jobs report: "If you look at the data from this week, it's proving that Trumponomics is really working ... we're very very happy" The Fox News host responds by saying "you'll bullish and I expected that"

5447d ago
Chuck Schumer
@schumer.senate.gov

Higher interest rates, rising costs, and no jobs. American families are being squeezed on all sides by Trump’s disastrous economy. abcnews.com/Business/job...

507d ago
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