Labor market faltered in September as jobs increased by just 29,000, unemployment rate rose to 4.2% - cnbc.com

The U.S. economy created far fewer jobs than expected in September, pointing to a surprising soft spot in the labor market and broader economy. Nonfarm payrolls rose a seasonally adjusted 29,000 for the month while the unemployment rate increased to 4.2%, the Bureau of Labor Statistics reported Friday. Economists surveyed by Dow Jones had been looking for job growth of 84,000 and an unemployment rate of 4.1%. In addition to the weakness in September, the August jobs count was revised lower to reflect a gain of 133,000 while July switched from a gain to a loss as payrolls fell by 10,000. The revisions in total showed 60,000 fewer jobs than previously reported.