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● LIVE Updated 3h ago · 14 sources tracked

Federal jobs report shows rise in unemployment rates

The US added 29,000 jobs in September, far below expectations of 85,000, and the unemployment rate ticked up to 4.2%. This slowdown in job growth has led traders to see little chance of a Fed rate hike in October. The weak jobs report has eased worries about inflation, causing US stocks to rise.

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  • ✓ US employers added 29,000 jobs in September.
  • ✓ The unemployment rate rose to 4.2%.
  • ✓ The slowdown in job growth has led traders to see little chance of a Fed rate hike in October.
  • ✓ US stocks rose after the weak jobs report.
🛡️ Source Corroboration: 14 independent reporting domains (90% confidence) ⏱ Read time: ~2 min

What changed

The US jobs report showed a sharper-than-expected slowdown in job growth, with the addition of only 29,000 jobs in September.

Live updates

  1. US job growth slows sharply, unemployment rises

    The US added 29,000 jobs in September, far below expectations of 85,000, and the unemployment rate ticked up to 4.2%. This slowdown in job growth has led traders to see little chance of a Fed rate hike in October. The weak jobs report has eased worries about inflation, causing US stocks to rise.

    Why it matters

    The September jobs report was closely watched as it came before the midterm elections and amid concerns about the state of the US economy. A slowdown in job growth could have implications for the Federal Reserve's interest rate policy. The economy has been a key issue in the midterm elections.

    What is confirmed

    • US employers added 29,000 jobs in September.
    • The unemployment rate rose to 4.2%.
    • The slowdown in job growth has led traders to see little chance of a Fed rate hike in October.
    • US stocks rose after the weak jobs report.
    • Average hourly earnings increased 0.1% for the month and 3.0% over the year.

    What to watch next

    • The Federal Reserve's decision on interest rates.
    • The impact of the slowdown in job growth on the midterm elections.
    • The release of the Fed minutes.
    Sources used for this update (17)
    1. CNBC — Stock futures are little changed as September jobs report looms: Live updates
    2. Reuters — Fed seen skipping October rate hike as job market cools
    3. CNBC — Traders now see little chance of a Fed rate hike in October after weak jobs report
    4. PBS — What a hiring slowdown signals about the state of the U.S. economy
    5. Yahoo Finance — September’s jobs report is expected to show a labor market that’s holding steady
    6. finance.yahoo.com — September's jobs report misses: US added just 29,000 jobs, unemployment ticked up
    7. 9News — Federal jobs report shows rise in unemployment rates
    8. WSJ — The Underwhelming Jobs Data That Sparked a Stock Rally
    9. Politico — US job growth slows, easing pressure on Fed to hike rates before midterms
    10. WSJ — U.S. Stocks Rise as Jobs Report Tempers Rate Outlook
    11. www.aol.com — US stocks rise near their record after the latest jobs report eases worries about inflation - AOL
    12. finance.yahoo.com — Dow, S&P 500, Nasdaq Futures Rise After Soft Jobs Report As Markets Await Fed Minutes: IBRX, SMCI, VST, S....
    confidence 90%
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