US added just 29,000 jobs in September in sharp drop from last month’s gains

Final jobs report before the midterm elections also shows the US unemployment rate rose slightly to 4.2%

US employers added just 29,000 jobs in September, a sharp drop from last month’s gains, and unemployment rose slightly to 4.2%, a sign of a cooling labor market in the final jobs report before the midterm election.

The numbers were under half of economists’ expectations of just under 70,000 new jobs. Most job gains were concentrated in the healthcare industry, which added 17,000 new jobs, while the information, financial and professional industries saw losses, according to the latest data from the US Bureau of Labor Statistics.

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Source: Guardian Economics