September Labor Report: 29,000 Jobs Added

Addison Group

The US labor market slowed in September, adding 29,000 new jobs in September, according to the Bureau of Labor Statistics. The latest numbers fell short of economists’ expectations, while the unemployment rate inched up slightly to 4.2%.

Addison Group September Breakdown Charts

Healthcare led growth in September with 17,000 new roles added. Healthcare saw its largest gains in ambulatory health and hospitals, but growth across the sector was slower than previous months.

Leisure and hospitality gained 10,000 roles. Professional and business services and government lost 9,000 and 17,000 jobs, respectively.

Average hourly earnings rose slightly by 0.1 percent, to $37.81. Labor participation changed slightly to 61.8%.

The softer-than-expected labor report may indicate that the Fed may hold interest rates steady at its October meeting.

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