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, missing economists' 90,000 forecast, while the unemployment rate rose to 4.2%.
- The BLS also revised July and August payrolls down by a combined 60,000 jobs, with July shifting from a gain to a loss of 10,000, revealing underlying labor market volatility.
- Glassdoor chief economist Daniel Zhao noted employee confidence fell to a record low in September, describing the labor market as 'low-hire, low-fire' where gross hiring has stalled for over two years.
- Market expectations for an October Federal Reserve rate hike diminished sharply, with CME Group's FedWatch tool pricing in just 17% odds of tightening, down from roughly 69% a week earlier.
- Rising energy prices tied to the conflict with Iran create economic headwinds weeks before November midterm elections, as consumers face persistent uncertainty over living costs and employment prospects.
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180 Articles
The report of the Department of Labour revealed that the US economy created only 29,000 jobs in September, against the 90,000 anticipated by analysts, while the unemployment rate rose to 4.2%, compared to the 4.1% expected. August's number was still revised downwards, to 133,000 jobs.
JOBS MISS SPARKS ONLINE REACTION: 29K SEPTEMBER PAYROLLS WIDELY FLAGGED AS WEAK SIGNAL
Accounts across the financial and conservative commentariat are amplifying a sharply weaker-than-expected September nonfarm payrolls figure of twenty-nine thousand jobs, with the unemployment rate rising to four point two percent. The claim, still not independently confirmed by Next News Network, has spread across several prominent accounts.
U.S. Employment Rises By 29,000 Jobs In September, Much Less Than Expected
The Labor Department released a closely watched report on Friday showing employment in the U.S. increased by much less than expected in the month of September. The report said non-farm payroll employment rose by 29,000 jobs in September after jumping by a downwardly revised 133,000 jobs in August. Economists had expected employment to increase by 85,000 jobs.
Hiring Is Weaker Than Expected in September
Job growth didn't stall in September, but it barely incremented forward. Friday's Labor Department report said employers added 29,000 jobs during the month, below economists' expectations of 84,000, reports CNBC . Unemploiment rose to 4.2%, instead of holding steel at 4.1% as expected, per the Wall Street...
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