Story perspectives

Unemployment Hits 4.2% as Employers Add 29,000 Jobs

By Drooid · Oct 3, 2026, 6:03 AM UTC · How we work

Summary

U.S. Employers Add Jobs

U.S. employers added 29,000 jobs in September while unemployment rose to 4.2%.
Revisions removed 60,000 jobs from July and August, turning July into a 10,000-job loss.
Health care added 17,000 jobs in September, half its monthly average, while nursing facilities lost 9,000.
Financial activities lost 7,000 jobs in September, extending a 129,000-job decline since May 2025.
ADP reported private payrolls rose 90,000 jobs in September, beating the 68,000 estimate.

Summary

Americans View Economy Decline

61% of Americans say the economy is worse than when President Donald Trump took office in January 2025.
Glassdoor’s employee confidence index fell to its lowest level since 2016 in September.
Only 17% approve of Trump’s handling of the cost of living.
Consumer confidence dropped to its lowest point in over a decade, per the Conference Board.

Summary

Fed Raises Rates

Federal Reserve raised interest rates by a quarter-point, its first hike in three years.
Fed Chair Kevin Warsh said the labor market is near full employment while inflation remains too high.
Mortgage rates jumped to 7.28%, the biggest weekly increase since 2022.
10-year Treasury yield reached a 24-year high after the September jobs report.

History

Historical Context

President Barack Obama signed the American Recovery and Reinvestment Act in February 2009 to counter the Great Recession. The Congressional Budget Office later estimated the stimulus saved or created about 2 million jobs by the end of 2009, while unemployment fell from a 10 percent peak in October 2009. The bill’s partisan opposition helped fuel the Tea Party and the Republican sweep of the 2010 House.

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U.S. Employers Add Jobs

U.S. employers added 29,000 jobs in September while unemployment rose to 4.2%.
Revisions removed 60,000 jobs from July and August, turning July into a 10,000-job loss.
Health care added 17,000 jobs in September, half its monthly average, while nursing facilities lost 9,000.
Financial activities lost 7,000 jobs in September, extending a 129,000-job decline since May 2025.
ADP reported private payrolls rose 90,000 jobs in September, beating the 68,000 estimate.

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