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U.S. employers added just 29,000 jobs in September, far below the 90,000 forecast. The unemployment rate rose to 4.2%, above the 4.1% expected.
Why it matters
The miss follows downward revisions to both preceding months. August payroll growth was cut to 133,000 from 162,000, while July was revised to a decline of 10,000. Together, the two months were 60,000 jobs weaker than previously reported. That makes September's weak reading part of a broader cooling in labor-market momentum rather than an isolated miss.
Market impact
For investors, the report sharpens the question of how quickly U.S. growth is slowing. The weaker hiring figures and higher unemployment rate also put the labor market at the center of the debate over future interest rates. The figures alone do not establish a change in policy or a market move.
Source: [United States Non Farm Payrolls](https://tradingeconomics.com/united-states/non-farm-payrolls)
Frequently asked questions
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How far did September payroll growth miss the forecast?
U.S. payrolls rose by 29,000 in September, compared with a forecast of 90,000.
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How did the unemployment rate compare with expectations?
The unemployment rate rose to 4.2%, above the 4.1% expected.
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What changed in the August payroll figure?
August payroll growth was revised down to 133,000 from 162,000.
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What did the July payroll revision show?
July was revised to a decline of 10,000 jobs. Together, the July and August figures were 60,000 jobs lower than previously reported.
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Why do the earlier revisions matter for investors?
They show that the September miss followed weaker hiring in prior months, strengthening the evidence of cooling labor-market momentum. That brings U.S. growth and future interest rates into focus.
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