US jobs growth slows to 29,000 in September
In short
US employers added only 29,000 jobs in September, far below the expected 84,000 to 90,000. The report said this pointed to a sharp slowdown in hiring.
This matters because bond yields fell and US stock futures rose after the data. Traders now expect a lower chance of another Federal Reserve rate hike, but the final policy outcome is not known.
What the reporting says
US employers added just 29,000 jobs in September, below expectations of 84,000 to 90,000, according to the publisher-supplied market summary. The weak reading was cited as evidence of a significant slowdown in hiring and pushed Treasury yields lower while lifting US equity futures. Traders also reduced expectations of another Federal Reserve rate hike, but the reporting does not say how long those moves will last.
Why it matters
US employers added 29,000 jobs in September, well below the 84,000 to 90,000 expected range, and the weak reading was linked to lower Treasury yields and higher US equity futures. Traders also cut bets on another Federal Reserve rate hike. The affected groups are US workers, bond markets, stock futures, and the Fed outlook, but no further details on sectors or longer-term effects are provided.