Here Are the Key Takeaways From the US Jobs Report for September

Here are the key takeaways for the US employment report for September, released Friday:

The US added fewer jobs than expected in September and wage growth slowed; nonfarm payrolls increased only 29,000 and revisions cut 60,000 jobs from the prior two months.The unemployment rate unexpectedly rose to 4.2%, though that partly reflected an increase in the participation rate to a four-month high of 61.8%, which is a positive sign.But in another surprise, average hourly earnings edged up a weaker-than-expected 0.1% from August and rose 3% compared with a year earlier — the slowest annual wage growth since 2021 and probably trailing inflation for the sixth consecutive month.The healthcare sector added 17,000 jobs, well below the average monthly gain during the prior 12 months of 33,000; meantime manufacturing gained 9,000 jobs.S&P 500 futures rose following the release and Treasury yields and the dollar declined, while traders trimmed bets for a Fed rate hike this year.

Read the full live blog on the Terminal and online.