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US Unemployment Rate Rises to 4.2% in September

Ankara:The US unemployment rate rose to 4.2% in September, slightly exceeding the market expectation of 4.1%. During the same period, the economy added 29,000 jobs, and the number of unemployed people remained stable at 7.1 million. This jobless rate has stayed within a narrow range since March.

According to Anadolu Agency, The Bureau of Labor Statistics revised the total nonfarm payroll employment figures for previous months. July's data was adjusted to show a loss of 10,000 jobs, while August's figure was revised to 133,000 jobs, a reduction of 29,000 from initial estimates.

In September, health care employment added 17,000 positions, though at a slower growth rate compared to the previous year. The construction sector hired 11,000 new workers, and manufacturing added 9,000 jobs. Meanwhile, the financial activities sector experienced a decline, losing 7,000 positions.

Average hourly earnings for employees on private nonfarm payrolls increased by five cents to 37.81, marking a 3% rise over the past year. Among different worker groups, the unemployment rate for Black Americans increased to 7%, while rates for adult men and women remained relatively unchanged at 3.9% and 3.6%, respectively.