US Employers Added Just 29,000 Jobs in September

US employers added just 29,000 jobs in September, down from a revised 133,000 in August, according to the Bureau of Labor Statistics (BLS). It is the final jobs report before the midterm congressional elections.

Headcounts were little changed across major sectors, from tech to retail, as hiring fell sharply from August's level, the BLS figures show.

The unemployment rate ticked up from 4.1% in August to 4.2% in September.

The numbers point to a cooling US economy. Experts said the data reduces the likelihood of a series of further interest rate hikes by the Federal Reserve.

The report stands in sharp contrast to President Donald Trump's insistence that America's economy is booming and that it is the "hottest" nation in the world. That disconnect presents a political problem: the president and his fellow Republicans head into the campaign's final stretch with just a month to go before the midterm congressional elections.

Public opinion data underscores the gap. An AP/NORC poll released on Thursday found that just 17% of Americans approve of the president's handling of cost-of-living issues, while 26% approve of his handling of the economy overall.

Both figures are new lows for Trump. They fall below the lowest marks recorded for Democrat Joe Biden during his presidential term. Early voting is already under way in some states, making the numbers a flashing warning sign for the Republican Party.

There are indications the president recognizes his economic message is out of step with most Americans. "I've done a very bad job of explaining how good the country is doing," he said at a White House event earlier this week.

The September jobs figures add to that challenge. A labor market that added fewer than 30,000 positions in a single month gives Republicans little statistical ammunition as voters cast their ballots — and gives the Federal Reserve reason to hold its next move.