US jobs growth stalls to just 29,000 in September

Summarised from 6 outlets · Updated 2 Oct, 14:25 · Archive

The US economy added just 29,000 jobs in September, sharply below forecasts and sending unemployment up to 4.2%.

US employers added just 29,000 jobs in September, a sharp slowdown from earlier in the year. The figure fell significantly short of forecasts, which had predicted 84,000 new positions would be created during the month.

Unemployment ticked upward to 4.2% from 4.1% in August, signalling that hiring momentum has faltered across the economy. The weak jobs figures suggest employers are pausing their hiring plans amid economic headwinds.

The disappointing data arrives as the Federal Reserve weighs its next moves on interest rates. Investors are largely expecting the Fed to hold rates steady at its upcoming meeting, though the figures may influence discussions about whether further increases are needed. The slowdown in job creation could ease pressure on the central bank to continue raising rates in the near term.

How it is being reported

• The U.S. added only 29,000 jobs in September as job market lacks sparkNPR · 2 Oct, 14:54
• US jobs market sees sharp slowdown in SeptemberBBC Business · 2 Oct, 14:12
• Labor market faltered in September as jobs increased by just 29,000, unemployment rate rose to 4.2%CNBC · 2 Oct, 14:11
• Job growth cools in September — sorely missing forecasts as unemployment ticks upNew York Post · 2 Oct, 13:45
• Employers added 29,000 jobs in September, missing economic forecastsCBS News · 2 Oct, 13:38
• US economy adds just 29,000 jobs in September as hiring slows sharplyFinancial Times · 2 Oct, 13:37

In this story: Federal Reserve · United States

This summary was written by AI from the headlines and standfirsts above, and states as fact only what at least two outlets report. How we use AI · Report a problem