Reaction roundup: Experts, analysts weigh in on September jobs report
Wall Street's attention on Friday was drawn to the September nonfarm payrolls report, which revealed weaker-than-anticipated job growth. The U.S. Bureau of Labor Statistics reported that nonfarm payrolls rose by 29,000 in September, a significant drop from the estimated 89,000. This marked the slowest monthly increase of the year and a 60,000 drop in July and August combined.
The unemployment rate climbed to 4.2% in September from 4.1% in August. These figures, amid other indicators suggesting a robust U.S. economy and moderating inflation, suggest a potential pause in Federal Reserve rate hikes. The reaction in Fed October rate expectations mirrored this sentiment.
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Also reported by 5 other outlets
- US adds only 29,000 new jobs in September, missing analysts’ expectations by a lot straitstimes.com
- U.S. added just 29,000 jobs in September, with unemployment rate rising to 4.2% coindesk.com
- Labor market faltered in September as jobs increased by just 29,000, unemployment rate rose to 4.2% cnbc.com
- Wall Street futures rise ahead of September jobs report as oil extends losses qz.com
- US jobs market sees sharp slowdown in September bbc.co.uk
