Report Shows Hiring Nearly Stopped As Shutdown Silences Official Job Numbers

Benzinga

Carlyle Group data shows U.S. hiring nearly flat in September with just 17K jobs added—the weakest since 2020. With official reports halted by the shutdown, the data signals a cooling labor market amid tariffs and tight monetary policy.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Carlisle Group released proprietary labor data showing U.S. hiring nearly stalled in September

00:07with just 17,000 jobs created, weakest pace since the 2020 recession.

00:12The report fills the data gap caused by the government shutdown,

00:15which halted an official Bureau of Labor Statistics reporting.

00:17The figure came in well below economists' forecasts of 54,000 and trailed August 22,000 gain.

00:23Job growth continued to slow through the summer,

00:25with June and July each adding 35,000 jobs that were later revised downward.

00:30An employment rate rose to 4.3%, marking its highest level since October 2021.

00:35Carlisle's data indicates the labor market is cooling as tighter monetary policy,

00:40tariffs, and restrictive immigration weigh on growth.

00:43For all things money, visit Benzinga.com.

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