Investing.com - U.S. non-farm private employment rose less-than-expected in September, fuelling concerns over the U.S. labor market, official data showed on Tuesday.
In a report, the U.S. Department of Labor said non-farm payrolls rose by a seasonally adjusted 148,000 in September, below expectations for an increase of 180,000.
The previous month’s figure was revised up to a gain of 193,000 from a previously reported increase of 169,000.
The unemployment rate ticked down to a four-and-a-half year low of 7.2% from 7.3% in August, but this was partially due to more people dropping out of the labor force.
The report also said that average hourly earnings rose by a seasonally adjusted 0.1% last month, below expectations for a 0.2% increase, after rising by 0.3% in August.
The highly-anticipated jobs report was supposed to be released on October 4, but was delayed due to the 16-day government shutdown that ended last week.
Market players have long been taking cues from the monthly jobs report, which is used to determine when the Federal Reserve will start rolling back its stimulus.
Following the release of the data, the U.S. dollar tumbled against the euro, with EUR/USD rising 0.46% to trade at 1.3744.
Meanwhile, U.S. stock index futures extended gains. The Dow Jones Industrial Average futures indicated a gain of 0.25% at the open, S&P 500 futures pointed to a rise of 0.2%, while the Nasdaq 100 futures indicated an increase of 0.25%.
In a report, the U.S. Department of Labor said non-farm payrolls rose by a seasonally adjusted 148,000 in September, below expectations for an increase of 180,000.
The previous month’s figure was revised up to a gain of 193,000 from a previously reported increase of 169,000.
The unemployment rate ticked down to a four-and-a-half year low of 7.2% from 7.3% in August, but this was partially due to more people dropping out of the labor force.
The report also said that average hourly earnings rose by a seasonally adjusted 0.1% last month, below expectations for a 0.2% increase, after rising by 0.3% in August.
The highly-anticipated jobs report was supposed to be released on October 4, but was delayed due to the 16-day government shutdown that ended last week.
Market players have long been taking cues from the monthly jobs report, which is used to determine when the Federal Reserve will start rolling back its stimulus.
Following the release of the data, the U.S. dollar tumbled against the euro, with EUR/USD rising 0.46% to trade at 1.3744.
Meanwhile, U.S. stock index futures extended gains. The Dow Jones Industrial Average futures indicated a gain of 0.25% at the open, S&P 500 futures pointed to a rise of 0.2%, while the Nasdaq 100 futures indicated an increase of 0.25%.