US Job Growth Slows in September to 4.2 Percent
US job growth slowed more than expected in September with nonfarm payrolls increasing by 29000. Meanwhile the unemployment rate ticked up to 4.2 percent as more people entered the workforce.
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United States nonfarm payrolls increased by 29,000 jobs in September, while the unemployment rate rose to 4.2%, according to data released on Friday. The latest figures missed expectations and triggered sharp downward revisions for the prior two months. The softer labor metrics give the Federal Reserve little reason to implement an interest rate hike during its upcoming gathering.
