It's the final checkup for the U.S. economy before the presidential election, and the jobs picture printed with something of a muffled thud.
Figures released early Friday by the U.S. Bureau of Labor Statistics indicated that non-farm payrolls increased 156,000 for September and the unemployment rate ticked up to 5%. Economists had expected 176,000 new jobs and the jobless rate to hold at 4.9%
Average hourly wages pushed higher, rising six cents to an annualized rate of 2.6% The average work week also inched up one-10th to 34.4 hours.
A broader measure of unemployment that includes those who have stopped looking for jobs as well as those working part-time for economic reasons was unchanged at 9.7%.
The report comes at a precarious time for the Federal Reserve as the U.S. central bank looks to resume getting rates back to normal. The Fed last hiked rates in December, the first such move in more than nine years. However, it has held off since then amid a variety of global and domestic concern.
Traders expect the Fed to hike again in December.
