US Unemployment Rate Rises to 4.2% as Job Growth Cools - New Jersey Business & Industry Association

The U.S. unemployment rate ticked up to 4.2% in September, while the economy added only 29,000 jobs, well below the average monthly gain of 45,000 over the prior 12 months, according to data released Friday by the U.S. Bureau of Labor Statistics. Although September’s jobless rate exceeded the 4.1% rate recorded in August, it is still lower than it was a year ago (4.4%). Since March, the national unemployment rate has fluctuated between 4.3% and 4.1%. A hiring slowdown was seen across most major industries in September as overall employment levels showed relatively insignificant changes. Health care employment continued its upward trend in September (+17,000), but at a slower pace than the average monthly gain over the prior 12 months (+33,000).