Job growth slows sharply in September; unemployment rate rises to 4.2%

Job growth in the United States slowed more than expected in September, while the unemployment rate rose to 4.2%. Nonfarm payrolls increased by 29,000 jobs during the month, following an upwardly and downwardly revised 133,000 increase in August, according to the Labor Department.

Despite the sharp deceleration in hiring, analysts and reports indicate that the weakness likely does not signal a material shift in the broader labor market. Instead, the slowed growth may be attributed to a calendar quirk.