The US added just 29,000 jobs in September as the unemployment rate rose to 4.2 per cent, according to figures highlighted by financial adviser Clark Geranen in an analysis of the latest jobs report.
The data, released on Friday October 2, showed a sharp slowdown in hiring compared with August, when payrolls increased by a revised 133,000. Economists had expected September’s total to be closer to 90,000.
The US Bureau of Labor Statistics said the number of unemployed people stood at about 7.1 million, while the unemployment rate had remained within a narrow range of 4.1 to 4.3 per cent since March. ([bls.gov](https://www.bls.gov/news.release/archives/empsit_10022026.htm?utm_source=openai))
Employment changed little across most major industries. Healthcare continued to add jobs, with employment rising by 17,000, although that was below its average monthly gain over the previous year. ([bls.gov](https://www.bls.gov/news.release/archives/empsit_10022026.htm?utm_source=openai))
The figures also included downward revisions to earlier estimates. July’s job growth was revised from 21,000 to a fall of 10,000, while August was revised down from 162,000 to 133,000, leaving employment 60,000 lower across the two months than previously reported. ([bls.gov](https://www.bls.gov/news.release/archives/empsit_10022026.htm?utm_source=openai))
Average hourly earnings for private-sector workers rose by five cents, or 0.1 per cent, in September, and were up 3 per cent over the year, the statistics agency said. ([bls.gov](https://www.bls.gov/news.release/archives/empsit_10022026.htm?utm_source=openai))
