Unemployment Rose to 4.2% in September

A CNN article

The US labor market hit a soft patch in September as the economy added just 29,000 jobs and the unemployment rate increased to 4.2%, new Bureau of Labor Statistics data showed Friday.

The latest jobs report – and the final official employment snapshot before the midterm elections – also showed that recent months’ hiring was weaker than previously thought and that wage growth slowed, putting Americans’ paychecks further behind the 8-ball at a time when inflation has accelerated.

Through September, the economy has added an average of 68,000 jobs per month, BLS data shows. That’s stronger than last year (when fewer than 10,000 jobs were added per month); however, the current pace of hiring is running well below pre-pandemic averages.

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