The NPR Politics Podcast U.S. Had Better-Than-Expected Job Growth In September
35 snips
Nov 20, 2025 
Scott Horsley, NPR's chief economics correspondent, breaks down the surprising September jobs report that saw 119,000 jobs added, despite the rising unemployment rate. The discussion highlights how the Trump administration is framing positive job gains while addressing economic challenges. They also delve into the impact of tariffs on manufacturing, the uncertain future of Federal Reserve interest rates, and how perceptions of economic recovery vary between the wealthy elite and the general public. Insights into voter concerns about affordability round out the conversation.
AI Snips
Chapters
Transcript
Episode notes
Mixed Jobs Picture In September
- The September jobs report showed 119,000 jobs added, beating expectations but painting a mixed picture.
- July and August were revised down, which tempers the upbeat headline and signals uneven labor trends.
Factories Struggling Amid Tariff Pain
- Manufacturing has been contracting and factory managers blame tariffs for rising costs.
- ISM surveys and months of factory job losses show tariffs may be harming U.S. manufacturing activity.
Jobs Data Muddies Fed's December Decision
- The jobs report offers evidence both for and against an imminent Fed rate cut.
- Downward hiring revisions and rising unemployment push toward cuts, while the 119,000 headline cautions policymakers to wait.