October Jobs Report Preview: Sept Hiring Slowed to 29k
Payroll growth slowed to 29,000 in September and the unemployment rate ticked up to 4.2%, the clearest cooling yet in a labor market that had spent most of the year near a standstill. The number matters less than the trend it confirms: through the third quarter the economy added about 51,000 jobs a month on a three-month average, roughly half the pace that would signal a genuinely healthy expansion. Friday's October Employment Situation is the real test, and the consensus heading in is a faster 65,000.
Key Takeaways September payrolls rose 29,000, and the unemployment rate ticked up to 4.2% from 4.1% in August. The three-month average gain is about 51,000 a month, a downshift from the spring'…
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