September Jobs Report Confirms a Weakening U.S. Labor Market. Black Unemployment Increases From 6.0% to 7.0%.
The September 2026 employment report confirms what we have been w arning about for months : the U.S. labor market is considerably weaker than headline economic narratives have suggested. The Bureau of Labor Statistics reported that total nonfarm payroll employment increased by only 29,000 jobs in September , while the unemployment rate edged up to 4.2 percent . Employment in every major industry was essentially unchanged. That is an extremely weak payroll number. Even more important, BLS revised previously reported employment sharply downward. July payroll growth was revised from +21,000 to -10,000 , while August was revised from +162,000 to +133,000 . Together, July and August employment was 60,000 jobs lower than previously reported . This is particularly noteworthy because after the August report we warned that the initially reported 162,000 payroll increase might be revised downward . That has now occurred. Black Unemployment Jumps to 7.0 Percent The most troubling number in the Se...