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“September jobs report: US economy gains 661,000 payrolls, unemployment rate ticks down to 7.9%.
The US economy saw another 661,000 jobs added back in September and a modest improvement in the unemployment rate, as the recovery in the labor market continues as a stagnating rate.
The Labor Department released its September jobs report Friday morning. Here were the main metrics from the release, compared to consensus estimates compiled by Bloomberg.
- Change in non-farm payrolls: +661,000 vs. +859,000 expected
- Unemployment rate: 7.9% vs. 8.2% expected
- Average hourly earnings, month over month: 0.1% vs. 0.2% expected
- Average hourly earnings, year over year: 4.7% vs. 4.8% expected
- Labor force participation rate: 61.4% vs. 62.0% expected
The addition in non-farm payrolls marked the fifth straight month of net job gains. July’s payroll gains were upwardly revised by 27,000 to 1.761 million, and August’s were revised up by 118,000 to 1.489 million.”