Labor market slowed in September, final monthly jobs report before midterms shows

The U.S. labor market slowed during the month of September, according to new data Friday from the Bureau of Labor Statistics.

The economy added only 29,000 jobs, fewer than expected by economists. The unemployment rate rose to 4.2%.

Average hourly earnings for workers rose only 0.1% from the prior month and 3% from a year ago. Friday’s data marks the sixth straight month of wages tracking below inflation. BLS will report September inflation numbers on Oct. 14.

Additionally, 60,000 jobs were revised out of previous months’ initial readings.

“The change in total nonfarm payroll employment for July was revised down by 31,000, from +21,000 to -10,000, and the change for August was revised down by 29,000, from +162,000 to +133,000,” the BLS said in a statement.

Overall, economists expected an addition of 84,000 jobs, an unchanged employment rate at 4.1% and earnings that increased by 3.1% from a year ago, according to a Dow Jones survey.

Friday’s data marks the final monthly employment report that will be issued before the U.S. midterm elections.

For months, the Republican Party and President Donald Trump have faced sagging poll numbers on the economy, as trade wars rage with close allies like Canada, the…

Original source: https://www.nbcnews.com/business