U.S. Hiring Slows Significantly in September, Unemployment Ticks Up

U.S. employers added a disappointing 29,000 jobs in September, falling short of economists' expectations and indicating a weaker labor market. The unemployment rate rose slightly to 4.2% from 4.1% in August. Average hourly wages increased by 3% year-over-year, marking the smallest gain since May 2021. This data could influence the Federal Reserve's monetary policy decisions, potentially leading them to keep interest rates unchanged.