U.S. nonfarm payrolls increase by 29,000 in September, less than expected; unemployment rises to 4.2%
Average hourly earnings rose 0.1% from August and 3% from a year earlier, while 60,000 jobs were revised out of prior months, the BLS said.
- The Bureau of Labor Statistics reported Friday that nonfarm payrolls increased by 29,000 in September while the unemployment rate rose to 4.2%, signaling a significant slowdown in labor market activity.
- Revisions removed 60,000 jobs from previous months, and the report fell well below the 84,000 additions economists projected in a Dow Jones survey, revealing softer underlying hiring trends.
- Average hourly earnings grew only 0.1% month-over-month and 3% year-over-year. Treasury bond yields soared to their highest levels since 2002, pushing 30-year fixed mortgage rates as high as 7.6%.
- This BLS report marks the final employment data release before midterm elections, making weaker-than-expected figures likely to intensify political debates over the administration's economic management.
- Economic strain persists as commercial diesel fuel prices remain 70% higher than earlier this year, while gas prices stay 50% above levels from when Israel and Iran began their conflict.
113 Articles
113 Articles
The United States economy created 29,000 jobs in September, according to data released this Friday by the Department of Labor, well below expected by the market of 84 thousand. The unemployment rate rose to 4.2% in September, after being 4.1% in August, and above the estimate of 4.1%. Exclusive material for subscribers. To have full access, access the link of the subject and register.
The American economy created 29,000 jobs in September against the 90,000 units expected by analysts. Unemployment, moreover, rises to surprise from 4.1% to 4.2%. US Treasury bond yields collapse after the September occupation. (ANSA)
US adds disappointing 29,000 jobs as unemployment ticks up to 4.2%
Friday's update is the final official jobs snapshot prior to Nov. 3 elections that will reveal whether President Donald Trump's Republicans can preserve their full command of the United States Congress
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