US adds disappointing 29,000 jobs and unemployment ticks up to 4.2% in September
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- ✓employers added a disappointing 29,000 jobs and the unemployment rate ticked up to 4.2% in September.
- ✓Hiring fell from 133,000 in August, missing expectations of 90,000.
- ✓Many Americans now worry about the economy as the Federal Reserve considers keeping interest rates unchanged to help the cooling job market recover.
Story at a Glance
- Category
- MARKET
- Reported By
- Economic Times
- Reading Speed
- 5 Minute(s)
- Market Focus
- India Economy
The U.S. job market saw a sharp decline, with only 29,000 new positions added last month, pushing the unemployment rate up slightly to 4.2%. Economists had expected better results, predicting the creation of roughly 90,000 jobs. Consumer confidence has taken a hit as many Americans voice their worries about the economy and job prospects, a sentiment likely to impact the forthcoming elections amid widespread discontent over economic policies.
WASHINGTON: U.S. employers added a disappointing 29,000 jobs and the unemployment rate ticked up last month, the government reported Friday, a month before voters go to the polls in pivotal midterm elections at a time of discontent over the high cost of living and the state of the economy.
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Economic Times
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