February 19, 2019

U.S. Employment Rises Much Less Than Expected In September

08 October 2018, 06:23 | Joann Bryant

In the past 12 months, the USA economy added over 2.5 million jobs.

The unemployment rate fell two-tenths of a percent to 3.7 percent, the lowest number since December 1969, the Department of Labor said Friday.

There were fewer jobs, however, added to the US economy in September than analysts expected. department figures showed about 134,000 new jobs for September - well below the 185,000 anticipated by experts. This is the sixth straight month the unemployment rate has been at or below four percent, also the best in a half century. and unemployment rates continue to hover near record lows.

Average hourly earnings are forecast to have risen 0.3% month-on-month and 2.8% year-on-year.

The September Employment Report was solid despite slower than expected job growth.

The unemployment rate for African-Americans dropped three-tenths of a percent to 6%; hovering slightly higher than the historic low of 5.9%.

The job growth, though, might have been affected by Hurricane Florence, but the Labor Department isn't able to quantify the storm's impact. If the labor market were as tight as implied by the Fed's estimate of full employment, job growth this strong would likely place significant upward pressure on wages.

"No-one at the Fed thinks unemployment near three percent is sustainable", Ian Shepherdson of Pantheon Macroeconomics said in a client note.

Job gains were noted in healthcare, up 26,000, transportation and warehousing, up 24,000, and construction, up 23,000. Then, thanks to an Obama-initiated economic stimulus that some Democrats labeled necessary but inadequate, and 90 percent of Republicans flat-out opposed, the number of available jobs grew steadily, albeit with excruciating slowness over the next six years. Gains or losses are calculated via the Current Employment Survey of 147,000 business establishments, while the unemployment rate is based on the Current Population Survey of 60,000 households.

ADP reported private sector employment increased by 230,000 jobs in September.

The tightening of the labor market is leading to an increase in wages.

Other News

Trending Now

Possible storm has northern Gulf Coast in its sights
We also still have Tropical Storm Leslie (the storm that won't let go!) in the Atlantic, but it is not going to impact land. South and southeast winds from the storm threatened to push water north into Terrebonne and Lafourche's bayous and marshes.

Samsung Q3 2018 Results: Company Posts USD 57.5 Billion Record Revenue
The Singapore Exchange issued a trading query at 4.27pm on Thursday, asking the company to explain the unusual trading activity. However, Samsung is expected to book a strong growth of 12% in operating profit during the fourth quarter, showed data.

Protesters Pound on Doors of Supreme Court: ‘Kavanaugh Has Got to Go’
The swearing-in will allow Kavanaugh to be seated on the court immediately. "I believe Brett Kavanaugh's a good man". She also said that she believes Ford, but thinks somebody else besides Kavanaugh must have been the perpetrator.

Nintendo may be introducing a playable Gameboy phone case
Nintendo is big on its nostalgia, often re-exploring the classic consoles that made the company great. However, a recent patent filed by Nintendo hints at an exciting future for smartphone gaming.

Authorities identify suspect in shooting of multiple officers in SC
Florence, a city in South Carolina's northeastern corner home to roughly 37,000, sits at the convergence of Interstates 95 and 20. The suspect, Frederick Hopkins , 74, was hospitalized with a head injury, Florence County Chief Deputy Glenn Kirby said Thursday.

South Korean ex-leader Lee gets 15-year term for corruption
Lee was not in attendance, citing ill-health and in protest against the court's decision to televise the ruling. Park is serving a 33-year sentence for corruption and was forced from office amid large-scale protests.

Players ‘TRAUMATISED’ by Jose Mourinho but Zinedine Zidane warned over job
He told BT Sport : "I told in pre-season that last season was phenomenal". I am fully supportive of the manager and my teammates.

Protesters gather at Capitol ahead of Senate vote on Kavanaugh
Vice-President Mike Pence planned to be available Saturday in case his tie-breaking vote was needed, which now seems unlikely. Some believe he might try to overturn the Roe versus Wade case which gave women nationwide right to abortion in 1973.

'Zinedine Zidane' pops up in Manchester before United match
Just 6 minutes later, French striker, Anthony Martial , grabbed the equalizer for Man United , with a great curling effort. United face Newcastle at Old Trafford on Saturday having won only four of their first 10 games in all competitions.

Eden Hazard reveals Maurizio Sarri's key rule change from Antonio Conte's reign
Cesc Fabregas says he wants to sign a new deal at Chelsea and play under head coach Maurizio Sarri "for a long time ". I feel I still have a lot of football left in me but it is now up to the club.