September 2026 jobs report indicates a cooling US labor market

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The September 2026 jobs report, released around October 2nd, showed a significant miss on job creation with only 29,000 jobs added against an expectation of 85,000-89,000. This 60,000 job deficit, coupled with a minor uptick in the unemployment rate from 4.1% to 4.2%, suggests a cooling trend in the US job market.