US job gains in September came in below expectations and the unemployment rate ticked up slightly, signaling that employers are taking a cautious approach to hiring amid rising costs.
Data released Friday by the US Bureau of Labor Statistics showed that nonfarm payrolls increased by 29,000 in September, with figures for the prior two months revised downward.
The increase fell short of the expectations of every economist surveyed by Bloomberg. The unemployment rate rose to 4.2%.
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