US Job Growth Slows Sharply in September as Unemployment Rises to 4.2%

US job growth slowed sharply in September, with employers adding 29,000 jobs, well below expectations of 90,000. The unemployment rate rose to 4.2%.

The weaker hiring figures pointed to a cooling labor market, as businesses expanded their workforces at a much slower pace than anticipated.

Layoffs remained limited, however, suggesting that slower job creation was not accompanied by widespread workforce cuts.

Domestic demand also remained strong, providing a contrasting signal to the slowdown in hiring.

Together, the figures presented a mixed picture of the US economy, with rising unemployment and subdued recruitment alongside continued consumer demand and limited job losses.