The U.S.labor market slowed during the month of September, according to new data Friday from the Bureau of Labor Statistics.The economy added only 29,000 jobs, fewer than expected by economists.
The unemployment rate rose to 4.2%.Average hourly earnings for workers rose only 0.1% from the prior month and 3% from a year ago.Additionally, 60,000 jobs were revised out of previous months.“The change in total nonfarm payroll employment for July was revised down by 31,000, from +21,000 to -10,000, and the change for August was revised down by 29,000, from +162,000 to +133,000,” the BLS said in a statement.Overall, economists expected an addition of 84,000 jobs, an unchanged employment rate at 4.1% and earnings that increased by 3.1% from a year ago, according to a Dow Jones survey.Friday’s data marks the last employment report before the midterm elections.
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