Mind not lost, sorry Screech.
Rich Duprey
October 10, 2026
Quick Read
- Employers added just 29,000 jobs in September, while revisions erased 822,000 reported gains, which amounts to 43% of all jobs counted since January 2025.
- The Fed raised rates to 4.00% on September 17 using job data that has since been revised sharply downward, making the hike look unjustified in hindsight.
- Job openings dropped 3.5% to 7.08 million in August and real hourly pay has fallen since January, squeezing workers who need new jobs most.
The Bureau of Labor Statistics reported on Oct. 2 that employers added 29,000 jobs in September. Forecasters had expected 84,000. The revisions in the same report were worse. July went from 21,000 jobs added to 10,000 lost. August fell from 162,000 to 133,000. Together, the two months lost 60,000 jobs from their earlier totals.
For nearly two years, the job market Americans were told about has been significantly stronger than the one that actually existed, and the Federal Reserve made a major policy decision based on numbers that have since been quietly rewritten.
finance.yahoo.com