U.S. unemployment ticks up to 4.2% as Labor Department releases disappointing job numbers for September

U.S. employers added a disappointing 29,000 jobs and the unemployment rate ticked up last month, the government reported Friday, a month before voters go to the polls in pivotal midterm elections at a time of discontent over the high cost of living and the state of the economy.Hiring dropped from a revised 133,000 in August, the Labor Department reported. The unemployment rate rose to a still-low 4.2% from 4.1% in August.Economists had expected September payrolls to come in at 90,000.Labor Department revisions also shaved 60,000 jobs off combined July and August payrolls. Average hourly wages were up just 3% last year from a year earlier — smallest year-over-year gain since May 2021.The U.S. job market has proven resilient in the face of a series of shocks — trade wars, persistent inflation, high interest rates and a conflict with Iran that has driven energy prices higher. Friday’s jobs report is the last one that will come out before the Nov. 3 elections that will determine whether President Donald Trump’s Republicans maintain full control of Congress.Futures for the S&P 500 and Nasdaq composite added to their gains after the data was released, while Treasury yields moved lower. …