U.S. employers added just 29,000 jobs in September as the unemployment rate edged up to 4.2%, with prior months revised sharply lower, signaling a weak labor market.
Key facts
- U.S. employers added 29,000 jobs in September.
- The unemployment rate inched up to 4.2%.
- July and August job gains were revised down by a combined 60,000.
- The figures extend a lackluster run for the job market.
U.S. employers added just 29,000 jobs in September, according to NPR, as the labor market showed continued signs of weakness. The modest gain fell well short of the stronger monthly figures that have characterized healthier periods of hiring.
The unemployment rate inched up to 4.2% during the month, NPR reported, a small but notable increase that adds to the picture of a cooling job market.
Compounding the September weakness, job gains for July and August were revised down by a total of 60,000 jobs. The downward revisions suggest that hiring over the summer was softer than initially estimated.
Taken together, the latest data extends what NPR described as a lackluster run for the job market, pointing to a slowdown in employment growth across the economy.
The combination of a low monthly jobs figure, a rising unemployment rate, and downward revisions to earlier months reflects a labor market that is losing momentum rather than accelerating.
Why it matters
Jobs data is a key gauge of the economy's health and influences decisions on interest rates, wages and household spending. A weakening labor market can affect everything from borrowing costs to the broader economic outlook for workers and businesses.
Frequently asked questions
How many jobs did the U.S. add in September?
U.S. employers added 29,000 jobs in September, according to NPR.
What is the current unemployment rate?
The unemployment rate inched up to 4.2% in September, NPR reported.
Were previous months' numbers revised?
Yes. Job gains for July and August were revised down by a total of 60,000 jobs.