The U.S. Labor Department reported Friday that employers added 29,000 jobs in September, a figure that fell below the 90,000 additions projected by economists. The unemployment rate rose to 4.2% from 4.1% in August, while annual wage growth slowed to 3%, its smallest gain since May 2021. The report follows a revised August job count of 133,000 and comes four weeks before the November 3 midterm elections.
The employment data arrives as President Donald Trump conducts a multiday campaign tour of Southern states, including stops in Oklahoma, Texas, and a scheduled rally in Mobile, Alabama, on Friday evening. The visits occur as Republicans face close midterm contests and shifting approval ratings. According to a Thursday survey from The Associated Press-NORC Center for Public Affairs Research, 26% of U.S. adults approve of Trump’s broader economic management, while 17% approve of his handling of the cost of living.
In addition to economic developments, legal and legislative actions are moving forward across the country. New York Governor Kathy Hochul appointed State Attorney General Letitia James as a special prosecutor to investigate sexual assault allegations at Cornell University. In Florida, former U.S. Representative David Rivera (R-FL) was scheduled for sentencing Friday morning in a Miami federal court for violating the Foreign Agents Registration Act (FARA) in connection with a lobbying campaign for the Venezuelan government. In Tennessee, Governor Bill Lee paused executions for the remainder of his term following a failed lethal injection attempt on Christa Pike on Wednesday.
The economic data and high borrowing costs are contributing to a decline in consumer and worker sentiment. The Conference Board reported that consumer confidence reached its lowest point in more than a decade this month, with 28% of respondents expecting fewer jobs in the next half-year. Similarly, Glassdoor's employee confidence index hit its lowest level since 2016. These figures suggest that workers may feel less mobile, with fewer people choosing to quit their current roles because they do not perceive better opportunities in the open market for higher pay or improved work-life balance.
This final labor report before the November 3 elections serves as a key data point for voters evaluating the economic performance of the current administration and the Republican-led Congress. The outcomes of these races will determine which party controls the House and Senate, potentially shifting the direction of federal economic and trade policy. Meanwhile, in New York, the special prosecutor's investigation into the Cornell case will examine the communication between campus police and local district attorneys. In Tennessee, an independent review of the state's execution protocol is underway following the second failed lethal injection this year.