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- October 17, 202613°
- BIST10011,722-2.89%
- USD49.45+0.05%
- EUR55.62+0.37%
- GOLD4,181.10+0.26%
- INTEREST37.00%-1.00
- BITCOIN81,509+0.01%
- October 17, 202613°
U.S. adds just 29,000 jobs in September as unemployment rises to 4.2%
U.S. employers added far fewer jobs than expected in September, and the unemployment rate edged up to 4.2%, pointing to a cooling labor market.
The U.S. economy added just 29,000 nonfarm jobs in September, well below expectations, while the unemployment rate rose to 4.2%, the Labor Department said on Friday.
Economists surveyed by Dow Jones had forecast a gain of 84,000 jobs and an unemployment rate of 4.1%. September’s increase was also below the average monthly gain of 45,000 over the previous 12 months. The number of unemployed Americans stood at 7.1 million.
Revisions also weighed on the picture: job gains for July and August were lowered by a combined 60,000. August had initially been reported as the strongest month since March, with 162,000 new jobs.
Health care leads hiring
Health care added 17,000 jobs, the most of any major sector, followed by construction with 11,000 and manufacturing with 9,000.
Average hourly earnings for private-sector workers rose 5 cents, or 0.1%, to $37.81 in September, and were up 3.0% from a year earlier. Earlier in the week, the ADP report had shown private employers adding 90,000 jobs, above forecasts.
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