The US Bureau of Labor Statistics report released moments ago showed that nonfarm payrolls (NFP) rose by only 29,000 jobs in September, compared to a revised 133,000 jobs added in August (originally reported as 162,000). The market had expected an increase of 89,000 jobs.

Meanwhile, the unemployment rate rose to 4.2% in September from 4.1%, while the labor force participation rate increased to 61.8% from 61.6%.

The average hourly wage growth slowed in September to 0.1% month-over-month from 0.3%, and year-over-year to 3.0% from 3.1% in August. In terms of sectors, the goods production sector added 18,000 jobs, the manufacturing sector added 9,000 jobs, and the construction sector added 11,000 jobs. In contrast, the private services sector added 28,000 jobs in August, led by the health care and social services sector, which added 23,000 jobs, while the professional and business services sector lost 9,000 jobs.