Revisions erase over 800,000 US job gains, showing weaker labor market
The Bureau of Labor Statistics said employers added just 29,000 jobs in September, well below forecasts of 84,000. Unemployment rose to 4.2 percent.
By Standard Topic. AI-generated from the reporting listed under Coverage. Published . Updated .
This story is no longer being updated. It reflects reporting up to .
What happened
The Bureau of Labor Statistics reported on October 2 that employers added 29,000 jobs in September, far short of the 84,000 forecasters expected. Revisions in the same report cut July to a loss of 10,000 jobs and lowered August to 133,000 added jobs. The unemployment rate rose to 4.2 percent.
Why it matters
The weak figures have increased pressure on the Federal Reserve ahead of its October meeting. They have also intensified debate over the direction of monetary policy.
Timeline
- Oct 2: The Bureau of Labor Statistics reports employers added 29,000 jobs in September, below the 84,000 forecast, and revises earlier months lower.
- Oct 10, 11:21 AM ET: Revisions are reported to have erased more than 800,000 U.S. job gains, with July and August revised down by a combined 60,000 jobs.
- Oct 11, 8:46 AM ET: The weak jobs data intensifies pressure on the Federal Reserve ahead of its October meeting.
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