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US employers added just 29,000 jobs in September
The unemployment rate ticked up to 4.2%, while September hiring fell far short of economists’ expectations of just under 70,000 jobs.
US employers added 29,000 jobs in September, according to the US Bureau of Labor Statistics data cited by The Guardian Economics, a sharp drop from the prior month’s gains and the final jobs report before the midterm elections.
The report also showed the unemployment rate rose slightly to 4.2%.
The September jobs figure was well below economists’ expectations of just under 70,000 new jobs, and earlier jobs data for July and August were revised down.
The Guardian Economics said initial reports for July and August were revised down by a total of 60,000, with July revised to a 10,000 job contraction and August revised to 133,000 jobs added.