U.S. employers added only 29,000 jobs in September as hiring slowed and the unemployment rate edged up to 4.2%, according to new federal data released Friday.
The September gain was well below August’s revised increase of 133,000 jobs and came as earlier employment estimates were lowered. July’s previously reported gain of 21,000 jobs was revised to a loss of 10,000, while August was revised down from 162,000. Together, the two revisions removed 60,000 jobs from earlier estimates.
Hiring was subdued across most major industries. Health care continued to add jobs, gaining 17,000 positions during the month, although that was about half its average monthly gain over the previous year. Employment in construction and manufacturing changed little, while financial activities lost 7,000 jobs.
Workers also saw modest wage growth. Average hourly earnings increased by five cents to $37.81 in September, a 0.1% increase for the month. Wages were up 3% compared with a year earlier.
The latest numbers point to a U.S. labor market where employers are hiring more cautiously, but widespread job losses have not emerged. The unemployment rate has remained between 4.1% and 4.3% since March, while employers have added an average of 45,000 jobs per month over the past year.
