Latest News Updates From Paul Wiseman

Hiring dropped from a revised 133,000 in August, the Labor Department reported. The unemployment rose to a still-low 4.2% from 4.1% in August.

U.S. job openings slid to 7.08 million from a revised 7.34 million in July, the Labor Department reported Sept. 29. Openings were the lowest since they hit 6.9 million in March.

The ban marks another ratcheting up of President Donald Trump’s second-term trade war with America’s longtime ally and trading partner.

Labor Department revisions added 55,000 to June and July payrolls. Employers created 21,000 jobs in July; the Labor Department had originally reported that they’d cut 23,000.

Consumer spending — which accounts for about 70% of U.S. economic activity — increased at a healthy 3.4% annual clip, up from 0.5% in the January-March period.

In addition, Labor Department revisions shaved 103,000 jobs off payrolls in May and June. The unemployment rate dipped to 4.1% only because Americans left the job market.

The Commerce Department reported July 30 that growth in U.S. gross domestic product decelerated from 2.1% in the first three months of 2026 and came in below economists' expectations.

The Fed’s rate-setting committee reached the 9-3 decision after two days of deliberations, marking the fifth straight meeting at which the benchmark rate was kept at around 3.6%.

Trade attorneys and analysts are confident the administration will beat the clock and swap out Section 122 tariffs with bigger Section 301 tariffs by the deadline.

The Labor Department reported July 15 that its producer price index — which captures inflation before it reaches consumers — dropped 0.3% from May, biggest decline since April 2025.