The Indicator from Planet Money · Friday, October 2, 2026
The latest jobs report indicates a slight increase in the unemployment rate to 4.2% in September, with the economy adding 29,000 jobs. Additionally, annual wage growth has slowed to 3%, falling behind the inflation rate of 3.4%, meaning wages are not keeping pace with the rising cost of living.
“the unemployment rate in September ticked up a tenth of a percentage point to 4.2, so not much of a change there, and the economy added 29,000 jobs.”
“Meanwhile, the rate of annual wage growth has continued to slow down. It was 3% in September. Compare that to inflation, which is around 3.4%.”
“So while the job market is kind of moving sideways, people's pay is not keeping up with rising costs.”