The U.S. economy added 29,000 nonfarm payrolls in September, well below the 90,000 economists had expected, the Bureau of Labor Statistics said Friday.

The unemployment rate came in at 4.2%, above the 4.1% consensus.

Wage growth also undershot forecasts.

Average hourly earnings rose 0.1% month-over-month, versus 0.3% expected, and 3% year-over-year, versus 3.2% expected.

Prior to the employment report, Fed futures had priced in only a 23% chance of a 25-basis-point rate hike this month.

This is a developing story…