The Federal Reserve raised rates in September to fight an energy-driven inflation spike, betting the labor market could handle the pressure. September's jobs report suggests that bet may have been wrong. This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them. Two weeks after the Federal Reserve raised interest rates, the labor market answered. Employers added just 29,000 jobs in September, missing the Reuters consensus forecast of 90,000. The unemployment rate rose to 4.2% from 4.1%. Revisions also cut a combined 60,000 jobs from the July and August totals. It was the third-weakest jobs report of 2026. The timing is what makes this report matter.
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