The U.S. Labor
Department announced on Friday that nonfarm payrolls increased by 136,000 in
September after an upwardly revised 168,000 gain in the prior month (originally
an increase of 130,000).
According to the report, employment rose in health care (+39,000 jobs), professional and business services (+34,000) and transportation and warehousing (+16,000). Employment in government also continued on an upward trend in September (+22,000). Meanwhile, retail trade employment edged down in September (-11,000). Employment in other major industries, including mining, construction, manufacturing, wholesale trade, information, financial activities, and leisure and hospitality, showed little change over the month.
The unemployment rate fell to 3.5 percent in September from 3.7 percent in August. That was the lowest level since December 1969.
Economists had forecast 145,000 new jobs and the jobless rate to stay at 3.7 percent.
The labor force participation rate was unchanged m-o-m at 63.2 percent in September, while hourly earnings for private-sector workers were little-changed m-o-m (-1 cent) at $28.09, following an unrevised 0.4 percent m-o-m gain in August. Economists had forecast a 0.3 percent m-o-m advance in the average hourly earnings. Over the year, average hourly earnings have increased by 2.9 percent, following an unrevised 3.2 percent rise in August.
The average workweek remained unchanged at 34.4 hours in September, matching economists’ forecast.
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