Economy adds 134K jobs in September.
Employment in the US rose by much less than expected in the month of September, according to a report released by the Labor Department on 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. The labor force participation rate fell by 0.2 to 62.7 percent.
Last month marked the 97th consecutive month of this job growth. The very low unemployment rate reflects an increase in the number not looking for work. But with unemployment at levels not seen since Richard Nixon was in the White House, the September report was also sure strengthen the case for the Federal Reserve to continue raising interest rates. After upward revisions to previous months' numbers, job gains have averaged 190,000 per month over the past three months, more than enough to keep unemployment on a downward trend. The manufacturing sector saw net job losses in last month's report - that's worth watching, as it relates to concerns about tariffs, but it's worth monitoring for broader economic-health concerns as well. The jobless rate's decline to a 48-year low will put that view to the test. How numerous new jobs are "good" jobs will become an on-going matter of debate, partly framed by the definition of "good" (which to some analysts includes whether jobs attract regular hours and benefits). Across education levels, unemployment rose by 0.6 percent for those with less than a high school education and by 0.3 percent for those with partial education.
Some measures showed the labor market may still have some room for further improvement.
As usual, the focus will be on wages - but even more so this time. Teen unemployment fell by 0.3 percent to 12.8 percent.
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