Fed Rate Hike Less Likely After Jobs Data

The U.S. job market added only 29,000 jobs in September, falling short of expectations and prompting the Federal Reserve to lean towards holding interest rates steady. Despite weaker-than-forecast employment growth, unemployment remained low, reducing the likelihood of an interest rate increase at the upcoming FOMC meeting. This soft jobs report has contributed to higher mortgage rates, continued financial tightening, and a sluggish housing market.

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