Job growth in the United States slowed in September, falling short of economists’ expectations as the unemployment rate rose in the final jobs report before the consequential midterm elections.
asserted
rate → slow → elections
The US economy added 29,000 jobs in September, according to the Labor Department’s report released on Friday, far below economists’ expectations.
uncertain
economy → add → expectations
Dow Jones had forecast 84,000 jobs, while economists polled by Reuters said they expected 90,000 job additions.
asserted
they → forecast → additions
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The unemployment rate also rose by 0.1 percentage point, from 4.1 percent to 4.2 percent.
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rate → hit → percent
The healthcare sector led the gains, accounting for the majority of new jobs.
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sector → lead → jobs
The industry added 17,000 jobs, marking a slowdown from an average of 33,000 jobs per month over the past year.
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industry → add → year
Construction added 11,000 jobs, while manufacturing added 9,000.
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manufacturing → add → 9,000
Financial activities, which include sectors such as commercial banking and insurance, shed 7,000 jobs.
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which → include → jobs
Most other sectors were largely unchanged, including retail, oil and gas extraction, and leisure and hospitality.
“Today’s disappointing report shows the labour market is grinding to a halt, marked by slow hiring and declining real wages that leave workers with very little leverage,” Kyle Moore, chief economist at the think tank The Century Foundation, said in remarks provided to Al Jazeera.
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Moore → include → Jazeera
Previous jobs reports were also revised downward.
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reports → revise → ?
July was revised from an initial gain of 21,000 jobs to a loss of 10,000 jobs.
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July → revise → jobs
August was revised down by 29,000 jobs, from 162,000 to 133,000.
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August → revise → 133,000
Wages grew by 3 percent, marking the slowest annual wage increase in five years.
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Wages → grow → years
Friday’s jobs report caps a week of weakening economic data before the consequential midterm election on November 3.
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report → cap → November
According to an AP-NORC poll released on Thursday, 61 percent of Americans polled said the US economy is worse off now than when Trump took office in January 2025.
“When businesses are barely hiring and raises aren’t keeping up with rising prices, it’s a stalled economy – and working families are stuck in it,” Breyon Williams, chief economist for Groundwork Collaborative, an economic policy think tank, said in a statement.
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Williams → accord → statement
Trump has been trying to change the narrative on the slumping economy.
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Trump → try → economy
On Monday, he said in a Truth Social post that “The United States has the BEST Employment Numbers in HISTORY.”
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States → say → HISTORY
On Tuesday, the US Labor Department released the Job Openings and Labor Turnover Survey, or JOLTS report, which showed little change, suggesting what economists call a low-hire, low-fire environment.
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economists → release → what
That means those who have jobs are generally not leaving for new ones, while employers are maintaining the status quo rather than expanding.
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employers → mean → quo
On the other hand, ADP’s private payroll report, released on Wednesday, showed that 90,000 jobs were created across the private sector.
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jobs → release → sector
The sheer number of layoffs fell, too, according to Challenger, Gray & Christmas.
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number → fall → Challenger
The report, released Thursday, showed that employers cut more than 43,000 jobs in September, marking an 18 percent decline in layoffs from August.
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employers → release → August
Friday’s jobs report comes before the Federal Reserve’s final policy decision before the midterm election.
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report → come → election
During its two-day policy meeting on October 27-28, the central bank will decide whether to raise, cut or maintain interest rates.
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bank → decide → rates
The odds increasingly suggest the Fed will hold rates steady in the 3.75-4.00 percent range, according to CME FedWatch, a tool that tracks the likelihood of monetary policy decisions.
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that → suggest → decisions
The FedWatch tool indicates there is currently a 77.3 percent chance that rates will hold steady, up from 35.8 percent this time last week.
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rates → indicate → percent
US markets are trending upward on the heels of the report.
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markets → trend → report
The price of gold, which is largely considered a safe investment during times of economic uncertainty, rose 1.1 percent to $4,223.49 amid the jobs report.
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which → consider → report
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