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US nonfarm payroll growth slows, unemployment rate rises to 4.2%
September nonfarm payrolls increased by 29k after a 133k gain in August, while average hourly earnings rose 0.1% month over month.
US nonfarm payrolls rose 29k in September, down from a 133k gain in August, and the print came in below consensus expectations for 90k growth, Action Forex reports.
The household survey showed the labor force expanded by 485k, slightly more than civilian employment at 406k, pushing the unemployment rate up 3 basis points to 4.2% and lifting the labor force participation rate to 61.8%.
Average hourly earnings increased 0.1% month over month, slower than the 0.3% m/m gain in August, while the 12-month change slipped to 3.0% and the three-month annualized rate eased to 2.4%.