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US September payroll growth slows, unemployment rises
Nonfarm payrolls added 29,000 jobs after a downwardly revised 133,000 gain in August, with analysts citing a possible Labor Day calendar effect.
US job growth slowed more than expected in September, and unemployment rose, according to the Labor Department’s employment report published on Friday, as summarized by Reuters.
Nonfarm payrolls increased by 29,000 jobs last month after August was revised down to a 133,000 gain. Economists polled by Reuters had forecast payrolls rising 90,000, with estimates ranging from 35,000 to 180,000.
Reuters also cited analysts saying the weakness likely reflected volatility tied to seasonal adjustment factors, particularly when the Labor Day holiday falls late in the month. Economists noted there were no signs of a broad increase in layoffs and that first-time unemployment benefit applications have been near 57-year lows.