U.S. nonfarm payrolls increase by 29,000 in September, less than expected; unemployment rises to 4.2%
- On Friday, the Bureau of Labor Statistics reported U.S. employers added 29,000 jobs in September while the unemployment rate rose to 4.2%. The agency also revised July and August payrolls down by a combined 60,000 jobs.
- This report arrives just four weeks before midterm elections on November 3, heightening political pressure on policymakers. The Federal Reserve faces a critical decision at its October 27-28 meeting as employment weakness complicates inflation-fighting efforts.
- Following the report, the 10-year Treasury yield fell to 5.17% from 5.24% a day earlier, signaling investor relief. The S&P 500 and Nasdaq futures both rose as traders reassessed expectations for interest rate increases.
- CME Group's FedWatch tool shows the probability of an October rate hike plunged to roughly 28%, down from about 69% a week ago. This dramatic shift reflects market confidence the Fed will pause further increases.
- Consumer confidence hit a decade low according to the Conference Board, with over 28% of respondents expecting fewer jobs in six months. This widespread anxiety, combined with stagnant hiring, underscores a persistent 'low-hire, low-fire' labor market.
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354 Articles
Employment growth in recent months was slower than projected, with estimates for July and August being revised downwards, leaving a combined total of 60,000 posts.
US reports weaker than expected September job growth
According to a report from Yahoo Finance, the United States labor market delivered a disappointing September, adding far fewer jobs than economists had forecast as official figures also showed earlier months were weaker than first thought. Employment rose by only 29,000 positions last month, well short of the 84,000 gain analysts had expected, while the […]
Job growth in America decelerates to 29,000 in September, below the projection of 90,000, while unemployment rises to 4.2% amid continuing limited layoffs and strong domestic demand.
Hiring slows in September with job growth of 29K • Rhode Island Current
Jobs across the United States rose by 29,000 in September, a disappointing result as recent growth was also revised down in Friday’s monthly jobs report, the last one before midterm elections. September growth was a large dip from a strong August number that was revised down from 162,000 to 133,000 in the new report. July […]
U.S. job growth slows sharply in September, unemployment rises | Honolulu Star-Advertiser
WASHINGTON >> U.S. job growth slowed more than expected in September, and the nonfarm payrolls count for the prior two months was revised sharply lower, almost taking another interest rate hike from the Federal Reserve this month off the table.
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