Lates News

The US added only 29,000 jobs in September, a sharp slowdown in hiring growth from the previous month. As the Federal Reserve weighs whether to raise interest rates further, this data has sparked market concerns about the resilience of the US labor market. Data released by the US Bureau of Labor Statistics on Friday showed that new job gains plummeted to 29,000 in September, while the August figure was revised down to 133,000, and the July employment data was further revised down by 31,000, adjusted to a loss of 10,000 jobs, turning negative. The unemployment rate was 4.1% in August and rose to 4.2% in September. This data will trigger market discussion over whether the US labor market is strong enough to support further interest rate hikes by the Federal Reserve.