U.S. September Payrolls Miss Sharply at 29K as Unemployment Rises to 4.2%

U.S. nonfarm payrolls increased by just 29,000 in September, well below the 90,000 market forecast, while the unemployment rate rose to 4.2% versus 4.1% expected. August payroll growth was revised down to 133,000 from 162,000, and July was revised to a 10,000 decline, leaving the two months combined 60,000 lower than previously reported. The data point to a broader cooling in U.S. labor-market momentum. — link