September Job Numbers Come in Well Below Expectations

The employment picture and unemployment rate changed little in September, the Bureau of Labor Statistics said Friday. Nonfarm payrolls increased by 29,000 for the month, while the unemployment rate ticked up to 4.2%. CNBC reported that economists surveyed by Dow Jones had predicted 84,000 new jobs and a jobless rate of 4.1%.

The government also revised downward the previous months’ numbers. August job gains were lowered to 133,000, while July figures were revised to reflect a loss of 10,000 jobs. In all, July and August showed 60,000 fewer jobs than previously reported.

By job category, healthcare added 17,000 positions in September, but at a slower pace, BLS reported. Construction and manufacturing jobs also posted gains, while financial services employment declined by 7,000 jobs. The sector has lost 129,000 jobs since a recent peak in May 2025, according to BLS.

Employment also showed little change over the month in other major industries, including: mining, quarrying, and oil and gas extraction; wholesale trade; retail trade; transportation and warehousing; information; professional and business services; social assistance; leisure and hospitality; other services; and government.