The U.S. Economy Added 29,000 Jobs in September, Far Fewer Than Expected. Here's Why That's Good News for the Stock Market Right Now.
Economists had expected the economy to add 84,000 jobs.
Overview
With bond yields having soared this year, bad news is once again good news.
U.S. nonfarm payrolls added 29,000 jobs in September, well below the 84,000 economists had expected. The unemployment rate also rose to a higher-than-expected 4.2%.
Details
Additionally, the Bureau of Labor Statistics revised job numbers downward in July and August by a combined 60,000 jobs. Average hourly earnings increased 0.1% in September, lower than the 0.3% gain Wall Street had been looking for.
Source
Originally published at www.fool.com.
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