U.S. Job Growth Slowed To 29,000 In September, With Slight Dip In Movie And Music Employment

U.S. job growth slowed in September to 29,000, while unemployment ticked up to 4.2%.

Overall, the employment situation was largely unchanged during the month, amid continued concerns over rising prices.

Employment in movies and music dipped slightly, shedding about 200 jobs to 328,500. Employment among broadcasting and content providers fell by 3,000, to 328,100. Industry lobbyists have pointed to job losses in movie and TV production as they press for passage of a 20% federal incentive, with hopes that Congress will take up a bill during the lame duck session.

The figures from the Bureau of Labor Statistics are the final monthly release before the midterm elections on Nov. 3.

The Bureau of Labor Statistics also revised previous months’ figures, as is typical. The figures for July were changed downward by 31,000, showing a loss of 10,000 jobs. August’s job numbers, which were surprisingly robust, were revised down by 29,000 jobs, to 133,000.

The biggest gains were in health care, adding 17,000 jobs, while there was a slight growth in construction and manufacturing jobs.

The average hourly earnings rose by 5 cents, or 0.1%, to $37.81. Over the past 12 months, average hourly earnings have risen by 3%.

Heather Long, chief economist at Navy Federal, called the report “mediocre.” She wrote on X, “The biggest sore spot = wage growth of 3% in past year. That’s a new 5-year low and it’s wiped out entirely by ~3.4% inflation.”