United States’ payrolls rise, revisions drag on total

The US labour market picked up slightly in September, after being revised weaker over the summer, but the gains were not enough to hold the unemployment rate in check, as outlined by KPMG US Chief Economist Diane Swonk.

United States (US) nonfarm payrolls rose by 119,000 in September while July and August were downwardly revised by 33,000. We now have two months of the year with negative prints, June and July. The three-month moving average rose to 62,300, which is double what we saw in August but not enough to hold the unemployment rate in check. The unemployment rate rose to 4.4 percent from a low of 4.1 percent in June. That is highest since October 2021. Labour force participation hit 62.4 percent, u...

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Authors: Diane Swonk

Published Date: 25 November 2025