US employers add only 29,000 jobs in September, unemployment rises to 4.2%
US employers added 29,000 jobs in September against about 90,000 expected, and unemployment rose to 4.2% from 4.1% (UPI, Al Jazeera, SAN, Gulf Times, Free Press Journal). July and August were revised down by a combined 60,000. Markets cut the chance of an October Federal Reserve rate rise to about 17%.
US data moves the US dollar, and the New Zealand dollar often swings with it.
A weaker US dollar can lift the kiwi, which would slightly cut import prices, but oil matters more for fuel.
Weak jobs reduce the need for US rate rises.
It also raises slowdown worries that would hurt New Zealand exporters.
The kiwi only lifted briefly. Oil and the election are the bigger drivers for now.
DailyDrop New Zealand edition No. 1 · Morning · MON., OCT. 5, 2026