The U.S. economy added only 29,000 nonfarm payroll jobs in September, and the unemployment rate rose to 4.2%, the Bureau of Labor Statistics reported Friday at 8:30 a.m. Eastern. That hiring pace missed Wall Street’s roughly 84,000 consensus and trailed the prior 12-month average gain of about 45,000. BLS said employment in all major industries changed little over the month.

Average hourly earnings for private workers edged up 5 cents, or 0.1%, to $37.81. Over the past year wages are up 3.0% — the slowest annual rise since May 2021. The average workweek held at 34.4 hours. About 7.1 million people were unemployed. Revisions cut earlier totals: July flipped from a 21,000 gain to a 10,000 loss, and August was trimmed from 162,000 to 133,000, a combined 60,000-job downward revision.

Private payrolls rose 46,000 while government employment fell 17,000. Health care added 17,000 jobs, construction 11,000, and manufacturing 9,000. Information lost 10,000, temporary help about 11,000, and financial activities 7,000. CNBC and Yahoo Finance matched the BLS tables on payrolls, the jobless rate, wages, and the two-month revision.

Backstory: August’s strong print had looked like a rebound after weak summer months. Wednesday’s softer August core PCE at 3.0% year over year had already dialed back near-term Fed hike odds. Friday’s soft jobs-and-wages combo pushed markets the same way — stock futures rose and Treasury yields fell as traders priced a higher chance the Fed holds at its late-October meeting.

Engage: full tables at bls.gov/news.release/empsit; same-day takes on CNBC and major wires. Next Employment Situation (October data) is set for Friday, November 6, at 8:30 a.m. Eastern.