US Firms Add Just 29,000 Jobs, Unemployment Rate Ticks Up: Instant Reaction

The US added fewer jobs than expected in September and wage growth slowed, signaling some caution among employers amid rising costs.

Nonfarm payrolls increased 29,000 last month after a downward revision to the prior two months, according to Bureau of Labor Statistics data out Friday. That missed all estimates in a Bloomberg survey of economists.

The unemployment rate rose to 4.2%, partly reflecting a growing workforce.

Bloomberg’s Tom Keene and Paul Sweeney get reaction from:

• Claudia Sahm, Chief Economist at New Century Advisors
• Rebecca Patterson, Senior Fellow at Council on Foreign Relations
• Kristina Campmany, Senior Portfolio Manager at Invesco

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