U.S. employers add 29,000 jobs as hiring momentum slows

U.S. employers added 29,000 jobs in September, while the unemployment rate ticked higher, the government reported, according to the Associated Press. The report landed amid continuing concern about living costs and the health of the economy.

Hiring was mixed by sector. Healthcare added jobs, while professional and business services cut positions. The AP also described a low-hire, low-fire environment: many workers stay employed, but job seekers may find fewer openings.

A softer labor market can affect household spending and company revenue, while also influencing expectations for interest rates. One monthly report can be noisy, so businesses will be watching upcoming data for confirmation of the trend.