U.S. nonfarm payrolls increase by 29,000 in September, less than expected; unemployment rises to 4.2%
Employers added far fewer jobs than economists expected, and revisions cut 60,000 positions from prior months as hiring slowed across key sectors.
- 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.
360 Articles
360 Articles
Hiring cools as U.S. adds 29,000 jobs in September, unemployment rises to 4.2%
WASHINGTON — U.S. employers added 29,000 jobs in September and the unemployment rate edged up to 4.2%, the government said Friday, a softer reading than economists had expected and another sign that hiring has slowed. The gain fell well short of the roughly 90,000 jobs forecast by economists surveyed ahead of the report, and it… The post Hiring cools as U.S. adds 29,000 jobs in September, unemployment rises to 4.2% appeared first on Florida’s Vo…
The country generated only 29,000 jobs in September, well below the 80,000 anticipated by analysts. The care sector has carried the bulk of these creations when the financial services sector continues to plunge in this area.
Hiring slows in September with job growth of 29K • Maine Morning Star
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 […]
Hiring slows in September with job growth of 29K • Washington State Standard
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 […]
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.
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