Job Growth Slows

US job growth cools in September as unemployment rises to 4.2 percent

Employers in the US hired at a slower pace than expected in September, while the unemployment rate rose. The Bureau of Labor Statistics reported that 29,000 jobs were added, below estimates of 84,000 and far below a revised gain of 133,000 the previous month. The unemployment rate increased to 4.2% from 4.1% the previous year. Economists have attributed the steady unemployment figures to Baby Boomers retiring and President Trump's strict deportation agenda. Despite this, the Fed is expected to maintain its steady stance on interest rates and is expected for a second rate hike in December.

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