News Summary

• Hiring grew much less than expected in September as a monthslong surge of inflation weighed on shoppers.
• The unemployment rate ticked up from 4.1% to 4.2%.
• Hiring came in below a monthly average gain of 45,000 jobs over the previous 12 months.
• The economy has shown signs of strain in recent months, including a bond selloff and a resurgence in oil and gasoline prices.
• The fresh data arrived weeks after the Federal Reserve imposed its first interest rate hike in three years.