The Department of Labor reported Friday that the economy added 29,000 jobs in September, falling well short of the 90,000 economists had projected.
Unemployment remained low, rising only slightly from 4.1 to 4.2 percent. Annual wages grew 3 percent year over year, the lowest wage growth since May 2021.
Stocks rose and bond yields fell on the news.
Employment and stock markets have remained strong in 2026, despite headwinds like weak consumer sentiment and tightening credit. Based on Friday’s jobs report, analysts downgraded the possibility of an October interest-rate hike from the Federal Reserve.
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