US adds disappointing 29,000 jobs and unemployment ticks up in fresh hurdle for Trump before midterms

U. S. employers added only 29,000 jobs in September, far below the 90,000 economists had expected, and the unemployment rate rose to 4. 2% from 4. 1%, the Labor Department reported Friday. The weak showing comes four weeks before the Nov. 3 midterm elections, which will decide whether President Donald Trump's Republicans keep full control of Congress. It is the last jobs report scheduled before that vote, according to The Independent.

August hiring was revised to 133,000, and revisions subtracted 60,000 jobs from the combined July and August totals. Wages rose 3% over the past year, the smallest annual increase since May 2021. Stock futures for the S&P 500 and Nasdaq extended gains, and the 10-year Treasury yield slipped to 5. 17% from 5. 24%.

Public mood remains sour. An AP-NORC poll found 17% of adults approve of Trump's handling of living costs and 26% approve of his economic stewardship, a new low. Consumer confidence hit its lowest level in over a decade, and Glassdoor's worker confidence index reached a record low. Economists describe a market where companies neither lay off nor hire much. Glassdoor chief economist Daniel Zhao said workers feel stuck because opportunities elsewhere are scarce.

Summarized by PolitiKool from The Independent’s reporting. Read the full story at The Independent →