Jobs Report Is Still Bad News Despite Eased Rate Expectations -- Market Talk

1105 ET - Today's weaker-than-expected jobs report is bad news for the economy, even if it does lower the odds that the Fed will raise rates this month, eToro's Bret Kenwell says in a note. Lower rates may support markets in the near term, but a meaningful deterioration in hiring and income eventually pressures consumer spending and economic growth, he says. Inflation is still a problem, but a breakdown in the labor market would create an entirely different problem, Kenwell says. "Hoping for a weaker labor market just to secure easier financial conditions is a poor tradeoff," he says. (dean.seal@wsj.com)

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October 02, 2026 11:05 ET (15:05 GMT)