US hiring slows, unemployment rises

U.S. employers added 29,000 jobs in September, far below economists’ expectations, while unemployment edged up to 4.2%, signaling a cooling labor market.

The Guardian

US added just 29,000 jobs in September in sharp drop from last month’s gains

Final jobs report before the midterm elections also shows the US unemployment rate rose slightly to 4. 2% US employers added just 29, 000 jobs in September, a sharp drop from last month’s gains, and unemployment rose slightly to 4. 2%, a sign of a cooling labor market in the final jobs report before the midterm election. The numbers were under half of economists’ expectations of just under 70, 000 new jobs . Most job gains were concentrated in the healthcare industry, which added 17, 000 new jobs, while the information, financial and professional industries saw losses, according to the latest data from the US Bureau of Labor Statistics. Continue reading. . .

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New York Times

Black Unemployment Rose Sharply in September, Jobs Report Shows

Economists had taken a recent drop in Black unemployment as a hopeful sign that job gains were lifting a broad share of workers.

Reposts 5 6h

Handelsblatt

Handelsblatt Live: U.S. stock market expert Koch: Labor market weaker than expected - upbeat mood on Wall Street

In September, 29,000 new jobs were created in the U.S. Economists had expected an increase of 90,000 jobs. For investors, this is good news, according to Markus Koch, because a rate hike in October becomes less likely.

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