// BBC BUSINESS NEWS — FINANZA
US jobs market sees sharp slowdown in September
Workforces remained unchanged across major sectors, from tech to retail. American firms are choosing to hold steady rather than hire or fire staff
The US jobs market saw a sharp slowdown in September, with employers adding just 29,000 jobs in the final update before the midterm elections.
Headcounts were little changed in major sectors from tech to retail as hiring fell significantly from August, according to figures from the Bureau of Labor Statistics (BLS).
Meanwhile, the unemployment rate rose slightly from 4.1% in August to 4.2% in September.
The figures signal a cooling US economy, which experts said reduced the likelihood of a series of further interest rate hikes by the Federal Reserve.
The 29,000 jobs created in September was down from a figure of 133,000 in August, according to revised BLS figures for the month.
But George Brown, senior economist at Schroders, said while job gains have been a “rollercoaster“ this year, a single soft report is unlikely to point to a lasting collapse.
And Bradley Saunders, North America economist at Capital Economics, said the lower figure was “not disastrous“, adding that a drop in government roles and temporary visa policy changes weighed on overall growth.
The BLS report stands in sharp contrast to President Donald Trump's insistence that America's economy is booming and it is the "hottest" nation in the world.
The disconnect is likely to present significant challenges as the president and his fellow Republicans hit the the campaign trail with just a month to go before the midterm congressional elections.