September Jobs Report Misses: US Economy Adds 29,000 Jobs

The U.S. economy added 29,000 nonfarm payrolls in September, well below the 90,000 economists had expected, the Bureau of Labor Statistics said Friday.

The unemployment rate came in at 4.2%, above the 4.1% consensus.

Wage growth also undershot forecasts.

Average hourly earnings rose 0.1% month-over-month, versus 0.3% expected, and 3% year-over-year, versus 3.2% expected.

Prior to the employment report, Fed futures had priced in only a 23% chance of a 25-basis-point rate hike this month.

This is a developing story…