FX.co ★ US Job Growth Expected to Slow

The US economy is projected to have added 90K jobs in September 2026, following a stronger-than-expected increase of 162K in August. The private sector is expected to account for 85K of the gain. Job growth is forecast to cool in leisure and hospitality and in local government education, while manufacturing and construction payrolls are anticipated to show solid advances, partly driven by ongoing investment in data centers to support AI. The unemployment rate is expected to hold steady at 4.1%, remaining close to a one-year low. Average hourly earnings are forecast to rise 0.3% from the previous month and 3.2% from a year earlier, a slight pickup from the 3.1% annual gain in August, which was the slowest pace since May 2021. Overall, the report is likely to indicate a relatively stable labor market.