US payrolls rise by 29,000 in September as unemployment holds at 4.2%

US employers added 29,000 jobs in September and the unemployment rate was 4.2%, the Bureau of Labor Statistics reported on Friday 2 October 2026. The bureau described both figures as little changed, and said employment in every major industry changed little over the month.

The details

September’s gain compares with an average monthly increase of 45,000 over the previous 12 months. Health care added 17,000 jobs, below its 12-month average of 33,000. Construction added 11,000 and manufacturing 9,000, while financial activities lost 7,000.

The earlier months were revised lower. July’s change went from +21,000 to -10,000, and August’s from +162,000 to +133,000, leaving employment in the two months 60,000 below what was first reported.

On the household side, about 7.1 million people were unemployed. The unemployment rate has stayed between 4.1% and 4.3% since March. The participation rate was 61.8% and the employment-population ratio 59.2%.

Average hourly earnings for private-sector employees rose by 5 cents, or 0.1%, to $37.81, and were 3.0% higher than a year earlier. The average workweek was unchanged at 34.4 hours.

Why traders follow it

The monthly employment report is one of the scheduled US releases that stock, bond and currency traders watch closely, as the main official monthly measure of the US labour market. Revisions matter as much as the headline: this report lowered the picture for the summer months. Our page on the Federal Reserve’s September statement gives the central bank’s own view of the labour market at its last meeting.

What comes next

The BLS will publish the October employment report on Friday 6 November 2026 at 8:30 a.m. Eastern time.