A total of 29,000 jobs were added to the U.S. economy in September, according to a report published Friday from the Labor Department, a figure “far short of expectations,” The Wall Street Journal reported.
According to the Journal, analysts were expecting 84,000 jobs to be added to the U.S. economy in September, a figure nearly three times greater than what the Labor Department reported. Additionally, the unemployment rate for September was also found to be slightly worse than what analysts predicted, ticking up from 4.1% to 4.2%.
The jobs report, which CNBC described as “pointing to a surprising soft spot in the labor market and broader economy,” was released as markets closely watch the Federal Reserve, which analysts suspect may vote to hike interest rates for a second time later this month.
The Labor Department’s report also included revisions to job numbers it had reported for August and July.
“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,” CNBC reported. “The revisions in total showed 60,000 fewer jobs than previously reported.”
The report comes as President Donald Trump’s deeply unpopular war against Iran continues to rattle the U.S. economy, with Fox Business hosts recently voicing fears that it may trigger a recession in the coming months.
