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US employers added 29,000 jobs in September, unemployment ticked up
The unemployment rate rose to 4.2% in September from 4.1% in August, and hiring cooled sharply versus August’s revised 133,000 job gain.
The US jobs market slowed in September, with employers adding just 29,000 jobs in the final BLS update before the midterm elections, according to Bureau of Labor Statistics data cited by BBC Business.
Headcounts were broadly little changed across major sectors such as tech and retail, while hiring fell significantly from August, the outlet reported.
The unemployment rate edged up to 4.2% in September from 4.1% in August. BBC Business also noted that economists said the weaker jobs picture points to a cooling economy and reduces the likelihood of additional Federal Reserve interest rate hikes.