Hiring Slowed to 29,000 Jobs in September; Unemployment Rose to 4.2%
Employment changed little across major industries. August's gain was revised down to 133,000, and wage growth slowed again.
Nonfarm payroll employment rose by 29,000 in September and the unemployment rate edged up to 4.2 percent, both little changed, the Bureau of Labor Statistics said Friday, October 2. Employment in all major industries changed little over the month. August's job gain was revised down to 133,000 from the 162,000 first reported.
Average hourly earnings were about 3.0 percent higher than a year earlier, the slowest pace since 2021, while consumer prices were rising faster. The report came after the Federal Reserve raised rates in September and before its October 27-28 meeting.
Sources