U.S. Labor Market Stalls as September Payrolls Rise by Only 29,000 and Jobless Rate Climbs to 4.2%
The U.S. labor market weakened sharply in September, with nonfarm payrolls increasing by just 29,000, far below the 84,000 economists had expected, according to the Bureau of Labor Statistics. The unemployment rate also rose to 4.2%, reinforcing signs that hiring momentum is fading as the economy absorbs tighter monetary policy and softer demand.
