US job growth slows sharply in September; unemployment rate rises to 4.2%
Washington: September saw weaker job growth than anticipated, with the Labor Department reporting 29,000 new nonfarm payroll jobs last month, down from an upwardly revised 133,000 in August. The unemployment rate rose to 4.2% from 4.1% in August as more people entered the workforce. Economists noted the seasonal impact of Labor Day, with no widespread layoffs reported.
Unemployment claims remained at 57-year lows. The report had no immediate impact on the Federal Reserve's interest rate decisions, as inflation remained the primary concern.
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