Key facts
- US job growth slowed in September.
- Economists expected 84,000 jobs added in September.
- August job growth was revised down to 133,000.
- July job growth was revised to a loss of 10,000 positions.
- Fed Vice Chair Philip Jefferson indicated a potential pause in interest rate hikes.
- Jefferson cited the need for more time to assess inflation trends.
US job growth slowed in September, potentially easing pressure on the Federal Reserve to raise interest rates before the midterm elections. Economists polled by The Wall Street Journal had anticipated 84,000 jobs to be added in the month, a significant decrease from the 133,000 job surge recorded in August, which was itself revised down from a previous estimate of 162,000. The labor department's count for July was also revised, showing a loss of 10,000 jobs instead of the previously reported 21,000 added positions.