Summary
- The U.S. added 29,000 jobs in September, falling short of predictions for 90,000.
- The jobless rate climbed unexpectedly to 4.2%.
- Bitcoin maintained a daily gain of roughly 2% at $86,600.
September revealed softness within the U.S. employment sector, potentially providing the Federal Reserve scope to maintain interest rates even while inflation stays elevated.
According to the government Nonfarm Payrolls Report published Friday morning, the U.S. created 29,000 positions during September. This fell below the median projection of 90,000 and contrasted with August’s addition of 133,000, which was revised down from the initially stated 162,000.
The rate of unemployment increased to 4.2%, compared to forecasts of 4.1% and the 4.1% figure recorded in August.
Along with the downward revision for August, the job gain of 21,000 reported for July was adjusted downward into a job loss of 10,000.
Already trading higher for the session, bitcoin hovered just below $87,000 in the moments following the data release. U.S. stock index futures extended their gains, with the Nasdaq advancing by 1.2%.
The 10-year Treasury yield dropped by 7 basis points down to 5.17%, while the 2-year yield experienced a comparable decline to settle at 4.71%. Gold advanced over 1%, and the greenback declined against major fiat currencies.
Reviewing other metrics from the report, average hourly earnings grew by a mere 0.1% over the previous month, missing expectations for 0.3% and matching the 0.3% rise seen in August. On an annual basis, average hourly earnings increased by 3%, compared to projections of 3.2% and August’s 3.1% rate.
Originally published at https://www.coindesk.com/markets/2026/10/02/u-s-added-just-29-000-jobs-in-september-with-unemployment-rate-rising-to-4-2.
