Bloomberg Surveillance · Friday, October 2, 2026
The US economy added only 29,000 jobs in the latest report, significantly missing the expected 90,000. The unemployment rate also rose to 4.2%, up from 4.1% previously. Average hourly earnings growth was weaker than anticipated, rising only 0.1% month-over-month.
“All right, let's get right to it. Big changes here. Change in non-farm payrolls. We're expecting 90,000 jobs. We're only getting... $ 29, 000. The prior month also revised downward from $ 162, 000 to $.”
“The unemployment rate rising to 4.2%. The expectation was 4.1%. Average hourly earnings on a month-over-month basis coming in much less than expected, just a tenth of a percent. The expectation was for three-tenths of a percent.”