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US unemployment rate rises to 4.2% in September, above forecast

US unemployment rate rises to 4.2% in September, above forecast
— Foto: Anadolu Agency

The US economy added 29,000 jobs last month, while the unemployment rate edged up to 4.2%, according to the Bureau of Labor Statistics.

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The US economy added 29,000 jobs in September, while the unemployment rate reached 4.2%, above the market expectation of 4.1%, the Bureau of Labor Statistics reported on Friday.

The number of unemployed people changed little, remaining at 7.1 million. The jobless rate has stayed within a narrow range since March.

Revisions to earlier job figures

The bureau revised its estimate of nonfarm payroll employment for July down by 31,000, to a loss of 10,000 jobs. The August figure was revised down by 29,000 to 133,000 jobs added.

Employment gains and losses by sector

Health care added 17,000 jobs in September, continuing its upward trend, though at a slower pace than over the previous 12 months. Construction companies hired 11,000 workers, while manufacturing added 9,000 jobs.

Financial activities lost 7,000 positions during the month.

Wages and unemployment rates

Average hourly earnings for employees on private nonfarm payrolls rose by five cents to $37.81. Earnings were up 3% over the past 12 months.

Among major worker groups, the unemployment rate for Black Americans rose to 7% in September. Rates for adult men and adult women changed little, at 3.9% and 3.6%, respectively.

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