A season of change: fewer openings, steadier footing. Employers are facing a labor market that continues to grow, but at a much slower pace than expected. Payroll gains came in well below forecasts, revisions reduced previously reported job growth, and hiring activity remains uneven across industries. At the same time, labor force participation increased and layoffs remain limited, creating a cautious rather than contracting market.
| Metric | September 2026 | Change / Notes |
| Job openings | 7.1 million | Little change |
| Quits | 3.1 million | Unchanged |
| New Jobs Added | +29,000 | Below the prior 12-month average of +45,000; July and August revisions reduced combined employment by 60,000. |
| Total Hires | 5.2 million | Little change over the month and year |
| Total Separations | 5.1 million | Unchanged |
| Layoffs and discharges | 1.6 million | Little change |
| Average hourly earnings | $37.81 | Up $0.05, or 0.1%, month over month |
| Labor force participation rate | 61.8% | Up 0.2 percentage point; labor force increased by 485,000. |
While broad-based hiring has slowed, demand has not disappeared. Healthcare, construction, manufacturing and technical occupations continue to add jobs, supported by ongoing investment and persistent skill shortages. Meanwhile, sectors such as information, professional services, financial activities, government and temporary staffing are experiencing more restraint as organizations closely evaluate new headcount and productivity needs.
For employers and recruiters, the path forward is clear: focus on critical talent. In today's low-hire, low-fire environment, success depends on targeting roles that drive revenue, support operational efficiency and advance automation and transformation initiatives. Organizations that align hiring strategies with business priorities, rather than pursuing growth for growth's sake, will be best positioned to navigate this next phase of the labor market.
Get the easy to read Jobs Report recap:
Sources:
- Federal Reserve Beige Book
- BLS Employment Situation
- BLS Job Openings and Labor Turnover Summary
- Reuters
- CNBC
- Associated Press
- CNN
Past Reports
