According to the U.S. Bureau of Labor Statistics, U.S. employment was largely steady in September, with nonfarm payrolls increasing by 29,000 and the unemployment rate holding at 4.2%. The unemployment rate has remained between 4.1% and 4.3% since March, while the number of unemployed people stood at about 7.1 million.
Job growth was limited across most major industries. Healthcare added 17,000 jobs, construction increased by 11,000, and manufacturing added 9,000. Financial activities declined by 7,000 jobs and have lost 129,000 positions since its May 2025 peak.
Wage growth remained modest, with average hourly earnings rising 0.1% in September and 3.0% over the past year. The BLS also revised July and August payroll gains downward by a combined 60,000 jobs, indicating a weaker recent employment trend than previously reported.
