US Jobs Report Surprises with 29,000 Additions in September

The US economy added 29,000 jobs in September, according to data released by the Bureau of Labor Statistics. This is higher than market expectations of a 4.1% unemployment rate, which was met at 4.2%. The number of unemployed people remained steady at 7.1 million.

The healthcare sector added 17,000 positions in September, continuing its upward trend. Construction companies hired 11,000 workers and the manufacturing sector added 9,000 jobs during this period. However, financial activities lost 7,000 positions.

Average hourly earnings for all employees on private nonfarm payrolls rose by five cents to $37.81 in September, representing a 3% increase over the past 12 months.