September's Jobs Report Gives the Fed Room to Wait. It Doesn't Give Borrowers a Break. - The South Shore Press

Payrolls rose just 29,000 and two earlier months were revised down by 60,000, but the household survey told a different story, and a Fed pause is not a rate cut. The government's September jobs report landed Friday morning and let most of the air out of the case for another Federal Reserve rate increase this month. Employers added just 29,000 jobs, the Bureau of Labor Statistics said, well short of the 84,000 to 90,000 economists had expected, according to Axios and CNN. The unemployment rate ticked up to 4.2% from 4.1%. And the two prior months looked worse on a second pass: July was revised from a gain of 21,000 to a loss of 10,000, and August from 162,000 to 133,000. That's 60,000 fewer jobs than first reported.