Weak September Jobs Report

U.S. Job Growth Falls Short in September as Unemployment Rises to 4.2 Percent

The Labor Department reported that the U.S. added 29,000 jobs in September, falling short of the 84,000 economists predicted and revised job growth estimates down. The unemployment rate rose to 4.2%, indicating a weaker-than-expected showing that the job market isn't as strong as policymakers had hoped. However, the Fed's preferred inflation gauge rose less than expected in August, suggesting it may be lessening pressure on the central bank to raise interest rates before the midterms. Despite this, some sectors, including construction and manufacturing, saw job growth increase due to data center construction. The Black unemployment rate in particular rose sharply to 7 percent, up a full percentage point from August. The G7 agreed to begin releasing 100 million barrels of stocked diesel over the next four months following pressure from the Trump administration. The right, not just the far right, is becoming increasingly anti-big-business.

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