U.S. employers added 29,000 jobs in September, less than economists forecast and a sign that some businesses are delaying hiring amid headwinds such as soaring energy prices and rising inflation.
Economists last month predicted the economy would add 90,000 new jobs, according to financial data firm FactSet. The unemployment rate in September was 4.2%, slightly higher than the previous month’s 4.1%.
Layoffs drop
Recent data shows that the labor market has rebounded since last year, when employers were adding an average of just 10,000 jobs a month. Economists are closely watching other indicators of labor market strength, such as wage growth, which has lagged inflation for five months in a row.
Data released Thursday by employment consultancy Challenger, Gray & Christmas showed layoffs have already Significant decline in 2026. The report found that layoffs through September were down 40% from the same period last year. On a monthly basis, the number of layoffs fell 20% from September 2025, reaching the lowest level in four years.
Economists say a stable labor market provides more room for the Federal Reserve to raise interest rates in the coming months. The central bank is focused on pushing inflation down to its annual target of 2%, last month Raise base interest rate This is the first time in more than three years.
In August, U.S. inflation rose at an annual rate of 3.4% as soaring energy costs pushed up consumer prices.
–This is breaking news and will be updated.