U.S. Labor Market Slows Sharply as September Payrolls Rise Just 29,000 and Jobless Rate Climbs to 4.2%
The U.S. labor market weakened in September, with nonfarm payrolls increasing by only 29,000, far short of the 84,000 economists had expected, according to the Bureau of Labor Statistics. The unemployment rate also edged up to 4.2%, reinforcing signs that hiring momentum is fading as the economy absorbs higher borrowing costs and softer demand.
