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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