Weak September Jobs Report Raises Concerns Over Economic Growth

The US economy added only 29,000 jobs in September, according to new data released by the Bureau of Labor Statistics (BLS). The unemployment rate also ticked up slightly to 4.2 percent.

The BLS revised the past two months downward, showing the market losing 10,000 jobs in July and adding 133,000 in August. This means that the economy added significantly fewer jobs than previously reported in those months.

Despite this, Fed Chair Kevin Warsh said last month that the unemployment rate is 'running consistent with full employment.' He noted that ensuring price stability can mean sustainable economic growth for longer.