U.S. employers add fewer jobs than expected as unemployment ticks up

U.S. Employers added 29,000 jobs, well below economists’ forecast of 90,000, in the Labor Department’s final jobs report before the midterm elections. The unemployment rate rose 0.1 percentage point to 4.2%.

The weaker hiring report lowered the odds of another Federal Reserve interest rate increase at the end of October, said Samuel Taube, an analyst at NerdWallet. He also said the stock market rose after the report.

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