U.S. employers added just 29,000 jobs in September, and the unemployment rate rose to 4.2%, the Labor Department reported. Monthly job gains for July and August were revised downward by a combined 60,000 positions, extending an otherwise lackluster stretch for the labor market.
Restaurants and bars contributed 11,000 of the jobs added in September—roughly one-third of the month’s total job growth. The modest payroll increase and the downward revisions to prior months undercut signs of momentum in hiring as the economy navigates persistent inflation and elevated interest rates.
(Image credit: Justin Sullivan)
Source: npr.org
