What happened
The US economy added 29,000 jobs in September, according to a report from the Department of Labor. This figure is significantly lower than the 90,000 jobs that economists had predicted. Despite the lower-than-expected job growth, the unemployment rate remained relatively low, increasing only slightly from 4.1 to 4.2 percent.
Annual wage growth was reported at 3 percent, which is the lowest rate since May 2021. The news had a positive impact on the stock market, with stocks rising and bond yields falling. This jobs report is the last one before the November election and may influence the Federal Reserve's decision on interest rates.
