Economy
September Jobs Report Disappoints: Only 29,000 New Jobs, Unemployment Rises to 4.2%
via Bureau of Labor Statistics
The U.S. economy added just 29,000 nonfarm payroll jobs in September, well short of the 84,000 economists expected, and the unemployment rate ticked up to 4.2%. Average hourly wages grew 3% over the past year, and previous months' figures were revised lower.
Why it matters
A weakening labor market could push the Federal Reserve to pause further rate hikes, which would gradually ease borrowing costs on mortgages, car loans, and credit cards.


