US economy adds far fewer jobs than expected in September

(Sharecast News) - The US economy added far fewer jobs than expected in September, according to figures released on Friday by the Bureau of Labor Statistics. Payrolls rose by 29,000, while the unemployment rate ticked up to 4.2% from 4.1%. Payrolls had been expected to increase by 84,000 last month, while the unemployment rate was forecast to be unchanged.

The data for August was revised down by 29,000 to show that 133,000 jobs were added, versus the 162,000 previously reported. Meanwhile, the change for July was revised down to show that 10,000 jobs were lost, versus a 21,000 gain previously reported.

Average hourly earnings rose just 0.1% on the previous month and 3% on the previous year.