Payrolls rise less than projected; US jobless rate holds steady

Washington

PAYROLLS rose less than projected in September, wages stagnated and the jobless rate was unchanged as people left the workforce, signalling the global slowdown and financial-market turmoil are rippling through the world's largest economy.

The addition of 142,000 jobs followed a revised 136,000 gain the prior month that was lower than previously estimated, a Labour Department report showed on Friday in Washington. The median forecast in a Bloomberg survey of 96 economists called for a 201,000 advance. The jobless rate held at 5.1 per cent, and wage growth was unchanged.

The weak report vindicates the Federal Reserve's decision to delay an interest-rate increase last month. Cooling overseas markets, a stronger dollar and lower oil prices t…