Stories

Fri, 02 Oct 2026

Fri, 02 Oct 2026 US jobs market sees sharp slowdown ahead of midterm elections

Unemployment rose slightly as American employers paused hiring with midterm elections just a month away.
The US jobs market saw a slowdown in September, with employers adding only 29,000 new positions. This was down significantly from the 133,000 jobs added in August and marked a sharp decline in hiring across major sectors such as tech and retail. The unemployment rate rose slightly to 4.2% from 4.1% in August. Economists noted that while this single report may not indicate a lasting downturn, it does suggest that the US economy is cooling down, which could reduce the likelihood of further interest rate hikes by the Federal Reserve.