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Geoff Bennett: We begin tonight with a key economic report that shows U.S. hiring slowing in September. Employers added just 29,000 jobs last month, less than economists had expected. The unemployment rate ticked up to 4.2 percent from 4.1 percent in August. Employment gains in July and August were also revised down by a combined 60,000 jobs. Amna Nawaz: The disappointing report has wide-reaching implications for consumer prices and interest rates, and it comes a month before Americans head to the polls for midterm elections.For more on this, we're joined now by Beth Hammack, president of the Federal Reserve Bank of Cleveland.Welcome to the "News Hour." Thanks...

American insurers have shed more jobs since early 2025 than they did during the financial crisis. Is AI to blame, and should Australia be concerned? ...

KUALA LUMPUR: The ringgit opened higher against the US dollar on Monday, following reduced expectations of a United States Federal Reserve (Fed) interest rate hike amid weaker-than-expected US jobs data, which is weighing on the greenback.At 8 am, the ringgit rose to 4.0805/0870 against the US dollar from Friday’s close of 4.0820/0870.Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the latest nonfarm payrolls (NFP) report showed that US job creation was lower than expected, with only 29,000 jobs added in September versus the consensus estimate of 90,000."The US unemployment rate also increased slightly to 4.2 per cent in September, after staying at 4.1 per cent for the previous two months."This suggests that the Fed may decide not to raise interest rates at its upcoming meeting on Oct 27-28,” he told Bernama. The ringgit traded higher against most major currencies at the opening.It rose against the Japanese yen to 2.5867/5910 from 2.5906/5941 at Friday’s close and strengthened against the euro to...

AI and automation will cut demand for about 36 million U.S. jobs by 2035 while growth elsewhere creates about 41 million, according to a new report from the McKinsey Global Institute. The jobs will exist, the authors argue, but it’s getting workers into them that’s the problem. “The next decade’s challenge is mobility, not scarcity,” they wrote. In its base case, about 11 million workers, roughly 7% of the workforce, would need to leave their occupations entirely, with a range of 6 million to 16 million. That’s close to the firm’s 2023 forecast of 12 million career switches by 2030. Most of those workers would have to jump into an entirely different field, such as retail to healthcare. McKinsey estimates about 770,000 people a year would need to make that kind of switch, roughly 3.6 times the historical average. About 788,000 workers a year made similar moves between 2019 and 2022, during the pandemic, without lasting damage, the report notes. That would represent a big...

Worker confidence weakens as US hiring slows (representative image) US employers added just 29,000 jobs in September, well below expectations, while the unemployment rate rose to 4.2%, according to government data released on Friday, pointing to a slowdown in hiring as the US heads towards pivotal midterm elections.Hiring fell sharply from a revised 133,000 in August, the labour department said. Economists had expected employers to add around 90,000 jobs last month.Revisions to earlier data also reduced combined July and August payrolls by 60,000 jobs.The unemployment rate increased from 4.1% in August to 4.2%. The rise came partly as 485,000 people entered the workforce in September, with not all of them finding jobs immediately.Average hourly wages rose 3% from a year earlier, marking the smallest year-over-year increase since May 2021.Healthcare hiring slows as governments cut jobsThe September figures showed weaker hiring across several parts of the economy. Federal, state and local governments cut 17,000 jobs, while professional and business services companies...

The US economy created 29,000 jobs in September, well below analyst forecasts of around 90,000 (SCOTT OLSON) Wall Street stocks advanced Friday after weak US jobs data lowered the odds of Federal Reserve rate hikes. Major US indices spent most of the day solidly in positive territory following the lackluster hiring data for September. Equities were also supported by a pullback in oil prices after G7 countries agreed to an emergency release of fuel reserves in light of the US-Iran war. Data showed that employment in the United States grew by 29,000 jobs in September, missing analysts' expectations of around 90,000, with the unemployment rate rising slightly to 4.2 percent. The jobs report "is lousy for the economy, but...

End-of-day quote USA 2026-10-02 ...

US employers added just 29,000 jobs in September, a sharp drop from last month’s gains, and unemployment rose slightly to 4.2%, a sign of a cooling labor market in the final jobs report before the midterm election.The numbers were under half of economists’ expectations of just under 70,000 new jobs. Most job gains were concentrated in the healthcare industry, which added 17,000 new jobs, while the information, financial and professional industries saw losses, according to the latest data from the US Bureau of Labor Statistics.Earlier jobs figures were also revised down: Initial reports from July and August altogether dropped by 60,000. The labor market contracted by 10,000 jobs in July after revisions, while August saw 133,000 jobs added.Growth in average hourly earnings slumped to 3%, the lowest rate in over five years.The unemployment rate has remained relatively steady since last year, when it hit 4.5% in November. US jobless claims also inched lower for the fourth week in a row,...

The US economy added 29,000 jobs in September, according to the latest report from the Bureau of Labor Statistics.The unemployment rate rose to 4.2% in September from 4.1% in August.Nonfarm payroll employment had been forecast to show an increase of 95,000, down from an increase of 162,000 initially reported in August, according to FactSet. That August gain has since been revised down to 133,000. Meanwhile, the unemployment rate had been forecast to remain steady at 4.1%.September Jobs Report Key StatsTotal nonfarm payrolls rose by 29,000 after rising by 133,000 in August.The unemployment rate rose to 4.2% in September from 4.1% in August.In September, average hourly wages rose by 5 cents, or 0.1%, to $37.81. This article was generated with the help of automation and reviewed by Morningstar editors. Learn more about Morningstar’s use of automation. The author or authors do not own shares in any securities mentioned in this article. Find out about Morningstar’s editorial policies. ...