FX.co ★ US Services Employment Rebounds Into Expansion in September

The employment component of the ISM Non-Manufacturing Index for the United States moved back into expansion territory in September 2026, offering a cautiously positive signal for the services labor market. The indicator rose to 50.1 in September from 47.8 in August 2026, according to data updated on 5 October 2026.

A reading above 50 points to expanding employment conditions in the services sector, while a level below that threshold indicates contraction. August’s 47.8 had suggested a pullback in hiring, raising concerns about potential softening in one of the key drivers of US economic activity. The climb to 50.1 in September now indicates that services employment is stabilizing, though only marginally above the expansion line.

The shift may be interpreted by market participants as a sign that services employers are tentatively resuming hiring after a weaker August, but the narrow margin above 50 suggests that underlying momentum remains fragile and will likely be closely watched in upcoming releases.