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US job growth slowed sharply in September, with nonfarm payroll employment rising by just 29,000, while the unemployment rate remained unchanged at 4.2 per cent, according to data released by the US Bureau of Labor Statistics (BLS) on Friday.
The number of unemployed people also changed little, at 7.1 million in September. The unemployment rate has remained in a narrow range of 4.1 per cent to 4.3 per cent since March, the Bureau said. The US BLS stated, Both nonfarm payroll employment (+29,000) and the unemployment rate (4.2 per cent) changed little in September. The latest payroll increase was below the average monthly gain of 45,000 recorded over the prior 12 months. Employment in all major industries changed little during the month. The data also showed downward revisions to employment gains in the previous two months. July payroll growth was revised to -10,000 from +21,000, while August payroll growth was revised to +133,000 from +162,000. With these revisions, employment in July and August combined was 60,000 lower than previously reported. Healthcare employment continued to trend upward in September, with the sector adding 17,000 jobs. However, the increase was slower than the average monthly gain of 33,000 recorded over the prior 12 months. Construction employment changed little during the month, rising by 11,000. Employment in the sector had increased by an average of 10,000 jobs per month over the prior 12 months. Manufacturing employment was also little changed in September, increasing by 9,000. The sector has added 72,000 jobs since a recent low in December 2025, according to the BLS data. Financial activities employment declined by 7,000 in September. Employment in the sector is down by 129,000 since May 2025, with most of the job losses coming from insurance carriers and related activities. Employment also changed little in other major industries, including retail trade, wholesale trade, transportation and warehousing, information, professional and business services, leisure and hospitality, social assistance and government. On wages, average hourly earnings for all employees on private nonfarm payrolls increased by 5 cents, or 0.1 per cent, to USD 37.81 in September. Over the past 12 months, average hourly earnings have increased by 3.0 per cent. The average workweek for all employees on private nonfarm payrolls remained at 34.4 hours in September. The labour force participation rate remained at 61.8 per cent, while the employment-population ratio stood at 59.2 per cent. The number of people employed part-time for economic reasons also changed little, at 4.5 million in September. These workers would have preferred full-time employment but were working part-time because their hours had been reduced or they were unable to find full-time jobs. (ANI)
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