US jobs market sees sharp slowdown in September
Unemployment rose slightly to 4.2% in September as American employers paused hiring.
US jobs market slows sharply in September
Workforces were largely unchanged across major industries, from tech to retail, as American companies opted to stay put rather than expand or cut staff.
The US jobs market experienced a steep slowdown in September, with employers adding only 29,000 jobs in the final update before the midterm elections.
Headcounts across major sectors, from tech to retail, changed little as hiring dropped sharply from August, according to Bureau of Labor Statistics (BLS) data.
At the same time, the unemployment rate edged up from 4.1% in August to 4.2% in September.
The numbers point to a cooling US economy, which experts said lowered the chances of a run of further interest rate hikes by the Federal Reserve.
The 29,000 jobs added in September was down from 133,000 in August, according to revised BLS figures for the month.