U.S. Jobs Growth Slows to 29K in September, Wage Growth Lags Inflation

NewsData.io · United States · Oct 2, 2026

U.S. employers added just 29,000 jobs in September, well below expectations, while the unemployment rate edged up to 4.2% and prior months' gains were revised down by 60,000 jobs combined. Federal Reserve Bank of Cleveland President Beth Hammack characterized the market as a 'low-hire, low-fire' environment, noting the 12-month average of 41,000 monthly jobs remains near break-even. Wage growth fell to its lowest annual rate since May 2021, sitting below the current inflation rate. Staffing firms should note the shortage of skilled trades workers — particularly electricians — flagged by Hammack, driven by data center construction demand, while the broader slowdown may temper client hiring appetite across other sectors.