Bitcoin · Federal Reserve (FED) · CoinDesk
U.S. added just 29,000 jobs in September, with unemployment rate rising to 4.2%
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The U.S. labor market showed weakness in September, potentially giving the Federal Reserve room to hold interest rates even as inflation remains elevated.
Key facts
- The unemployment rate rose to 4.2%, versus expectations of 4.1% and August’s reading of 4.1%
- The 10-year Treasury yield slumped by 7 basis points to 5.17%, and the 2-year yield fell by a similar margin to 4.71%
- Checking other report numbers, average hourly earnings rose 0.1% last month, well shy of forecasts for 0.3% and August’s 0.3%
- In addition to August’s downward revision, July’s 21,000 jobs gain was revised to a jobs loss of 10,000
Summary
The U.S. added 29,000 jobs in September, missing forecasts for 90,000. The unemployment rate unexpectedly rose to 4.2%. Bitcoin continued about 2% higher for the day at $86,600. The U.S. added 29,000 jobs in September, according to the government’s Nonfarm Payrolls Report released Friday morning.