The U.S. labor market stumbled in September, adding just 29,000 new jobs as the unemployment rate edged up to 4.2%.
According to the latest report from the Bureau of Labor Statistics, released Friday, economic recovery suffered a setback at the start of fall, with nonfarm payrolls growing by only about a third of economist expectations.
Weaker-than-anticipated job numbers make it less likely that the Federal Reserve would opt for another interest rate hike when the Federal Open Market Committee (FOMC) meets on Oct. 27-28.