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.