Nick Timiraos | For the Fed, a Middling Jobs Report Will Keep Focus on Inflation Data -- WSJ
Dow Jones2026/10/02 13:59By Nick Timiraos
The September employment report will give Federal Reserve officials little reason to change their underlying view of the economy, and it removes one potential obstacle to holding interest rates steady this month.
The most important development was that the report provided few signs that the labor market is tightening in ways that would add to price pressures. Top Fed officials signaled this week they want more time to assess how inflation trends are unfolding after they raised rates last month, and Friday's report gives them room to wait.
Hiring slowed in September and revisions showed job growth over the summer was slightly cooler than previously reported. The unemployment rate rose to 4.2% from 4.1%, but the increase was smaller than it appears: unrounded, the rate edged up to 4.18% from 4.14%.
A meaningful drop in the unemployment rate, which Fed officials watch more closely than monthly payroll gains, could have complicated the decision by Chairman Kevin Warsh and his colleagues regarding whether to raise interest rates again this month by showing pressures that would push up the cost of labor. Friday's report gave them no such signal.
A reading on consumer prices for September, due Oct. 14, is likely to weigh more heavily on the timing of further rate increases and how far the current tightening runs.
This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).
(END) Dow Jones Newswires
October 02, 2026 09:59 ET (13:59 GMT)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
SpaceX to acquire nationwide 800MHz spectrum portfolio pending FCC approval
SpaceX (SPCX.US) announced on Thursday that it has reached an agreement to acquire a portfolio of low-frequency spectrum licenses covering the entire United States, enabling it to directly compete with traditional wireless communication giants nationwide. While Starlink Mobile’s existing global 2 GHz mid-band spectrum will provide high bandwidth capacity, this new spectrum will allow its signals to penetrate obstacles. This move accelerates Elon Musk’s ambitious plan to bypass traditional wireless infrastructure and deliver cellular network connectivity directly to smartphones from Earth’s orbit. The deal involves acquiring 100% of a nationwide 800 MHz spectrum portfolio owned by private equity firm Grain Management, and is still subject to regulatory approval by the Federal Communications Commission (FCC). In addition, the FCC this week approved Starlink Mobile’s application for a second-generation satellite constellation, authorizing SpaceX to deploy 15,000 satellites worldwide optimized for the 2 GHz band. Following the announcement, shares of US telecom companies fell in after-hours trading, while SpaceX (SPCX.US) shares rose by over 1.7%.
Raytheon awarded a multi-year contract worth $6.3 billions for SM-3 IB interceptors
U.S. Department of Defense: Raytheon has been awarded a multi-year contract worth $6.3 billions for SM-3 IB interceptors.
Updated version 3 - SpaceX aims at US wireless carriers through spectrum acquisition
Reuters, October 8 – SpaceX (SPCX.O) reached an agreement on Thursday to acquire a nationwide portfolio of low-frequency spectrum, enabling Elon Musk’s satellite company to directly challenge traditional US wireless giants at the orbital level. While Starlink Mobile’s current global 2 GHz mid-band spectrum provides high bandwidth capacity, the new spectrum will allow its signals to penetrate obstacles. The financial terms of the agreement were not disclosed. Low-frequency bands are highly sought after for their longer transmission distance and ability to penetrate dense structures such as walls and tree cover, helping to solve a major technical obstacle previously faced by satellite-based mobile networks. By combining nationwide low-frequency radio waves with high-frequency space transmission capabilities, SpaceX is positioning Starlink Mobile as a service that can completely bypass traditional base stations and challenge the wireless oligopoly both in terms of broad coverage and reliable indoor signal. The deal intensifies competitive pressure on traditional carriers, transforming satellite direct-to-device technology from a supplementary safety feature for remote dead zones into a full-fledged commercial competitor capable of replacing terrestrial cellular networks. Shares of T-Mobile US (TMUS.O), Verizon (VZ.N), and AT&T (T.N) all fell more than 6.5% in after-hours trading. The transaction involves acquiring 100% of the nationwide 800 MHz spectrum portfolio held by private equity firm Grain Management, pending regulatory approval from the Federal Communications Commission (FCC). Grain acquired this spectrum earlier this year from T-Mobile. Crucially, most existing, unmodified mobile phones already support the 800 MHz band, so consumers do not need to purchase dedicated satellite phones. The FCC this week also approved Starlink Mobile’s application for its second-generation satellite constellation, authorizing SpaceX to launch 15,000 satellites worldwide optimized for the 2 GHz band. This new constellation will operate in very low Earth orbit, providing ordinary phones with broader bandwidth and low-latency connections. (For the convenience of non-native English speakers, Reuters automatically translates its reports into several other languages. Automated translations may contain inaccuracies or lack necessary context; Reuters does not guarantee the accuracy of automated translation and provides it solely as a convenience for readers. Reuters is not liable for any damage or loss resulting from the use of automated translation.)
Nasdaq drops 1.25%, Nvidia and Micron lead the decline
The Dow Jones closed up by 0.1%, the Nasdaq fell by 1.25%, and the S&P 500 decreased by 0.47%. Among the most actively traded stocks, Micron Technology dropped by 4.79%, Nvidia declined by 2.94%, SanDisk fell by 4.9%, and Super Micro Computer dropped by 3.9%.
Crypto prices
More
