The U.S. economy created 136,000 jobs in September and the unemployment rate fell to 3.5 percent.
Economists had expected the economy to between 120,000 and 179,000 with the consensus number at 145,000, according to Econoday. Unemployment was expected to remain unchanged at last month’s 3.7 percent.
The jobs data for the two previous months were also revised upward, indicating that the labor market was stronger over the summer than previously indicated. Employment for July was revised up by 7,000 from 159,000 to 166,000, and August was revised up by 38,000 from 130,000 to 168,000. With these revisions, employment gains in July and August combined were 45,000 more than previously reported.
The stronger numbers for July and August may also explain the slightly-below expectations figure for September since some of the growth in employment forecast for last month had already occurred.
The last time the rate was this low was in December 1969, when it also was 3.5 percent.
Trump vows US ‘in charge’ of Venezuela as he reveals if he’s spoken to Delcy Rodríguez
Maduro and ‘Lady Macbeth’ Cilia Flores marriage spells ‘worst case’ custody scenario
Pilot dies alongside 3 nieces on wedding day in tragic Arizona helicopter crash
Trump and Musk share ‘lovely dinner’ at Mar-a-Lago after public feuding
Venezuelan President Nicolas Maduro’s narco case echoes US history of targeting alleged foreign drug kingpins
The Obama, Biden War on Coal Created an Energy Crisis: Trump’s Policies Are Already Fixing it
Trump issues direct warning to Venezuela’s new leader Delcy Rodríguez following Maduro capture
Now That’s a Low Blow: MTG Accuses Trump of Being a Fake Christian
Dems Push Beth Macy as the Liberal Answer to JD Vance, Say She’s ‘What Vance Could Have Been’
Bible Sales Skyrocket in 2025, Massive Spike Following Charlie Kirk’s Murder
American jailed for billionaire’s Monaco death, plot to kill wife exposed in long con, expert says
CNN Analyst: JD Vance Is Dominating the 2028 GOP Field and It’s Not Even Close
Venezuela still owes US energy companies billions as Trump calls for new investment
Elected Democrat Busted Breaking Into a Car, Charged with Burglary
CIA Launched a Christmas Eve Strike Inside Venezuela: Report
Economic data has been intensely scrutinized this week for signs of economic sluggishness after the Institute for Supply Management’s survey of manufacturing companies suggested the manufacturing sector had unexpectedly contracted for a second consecutive month. Survey data of non-manufacturing companies, however, showed that the services sector continued to expand in September. Similarly, data on private payrolls and unemployment claims suggested that the U.S. economy had cooled but was not near a recession.
September’s hiring may have been weighed down by the strike by General Motors workers, which has sidelined GM plants and likely prevented GM suppliers from hiring new workers. The latest data suggests that manufacturing held its job count near steady, shedding just 2,000 jobs during the month.
Wage growth was weak in the month. In September, average hourly earnings for all employees on private nonfarm payrolls, at $28.09, were down 1 cent, after rising by 11 cents in August. Over the past 12 months, average hourly earnings have increased by 2.9 percent. In September, average hourly earnings of private-sector production and nonsupervisory employees rose by 4 cents to $23.65.
Story cited here.
