The U.S. economy added 119,000 jobs in September, the Department of Labor said Thursday.
Economists had forecast payrolls to expand by 50,000. The jobs report for September was released Thursday after being delayed several weeks by the government shutdown.
The October jobs report, which would have normally been released on the first Friday of the month, is likely never to be produced because the government was shut down during the weeks in which the data would have been collected. The November report is currently scheduled to be released on December 16, weeks after the usual timing.
The unemployment rate edged up to 4.4 percent from 4.3 percent, as the labor force participation rate increased in the month. The number of Americans with jobs expanded by 251,000 while the number of Americans looking for work but unable to find a position rose by 219,000.
Payroll gains were highest in consumer facing businesses, suggesting that the American household sector is still healthy. Jobs at bars and restaurants rose by 37,000. Overall, leisure and hospitality added 47,000. Healthcare payrolls expanded by 43,000 jobs. Retail trade added 13,900 jobs and wholesalers added 9,400.
President Trump’s efforts to shrink the size of the federal government continue to bear fruit. Federal government employment fell by 3,000 and is down by 97,000 since the start of the year.
Manufacturing employment fell by 6,000 and is unchanged from a year ago. Durable goods manufacturers have added 1,000 jobs from a year ago, even after a 4,000 jobs cut in September.
Construction added 19,000 jobs after contracting in the previous two months. Compared to a year ago, construction jobs are up by 30,000.
Average hourly earnings rose by 9 cents, or 0.2 percent, to $36.67 in September. Over the past 12 months, average hourly earnings have increased by 3.8 percent, beating the 3.0 percent rate of inflation. In September, average hourly earnings of private-sector production and nonsupervisory employees rose by 8 cents, or 0.3 percent, to $31.53.
On the negative side, there were significant downward revisions to the July and August estimates. July was revised down by 7,000, from a gain of 79,000 to
72,000. The estimate for August was revised down by 26,000, from a gain of 22,000 to a loss of 4,000. After the revisions, employment in July and August combined was 33,000 lower than previously reported.
Read the full article here