September Jobs Report: 136,000 Jobs Added, Unemployment Declines To 3.5%
The U.S. economy added 136,000 jobs in September, while the unemployment rate declined to 3.5%, according to data released by the Department of Labor on Friday.
136,000 jobs were added in September, according to the Bureau of Labor Statistics report, about 6,000 more jobs than were added in August. Unemployment declined to 3.5%.
Economists predicted the unemployment rate would remain the same at 3.7%, according to the New York Times, and that employers would add 147,000 jobs.
Job growth has come back strong after February when just 33,000 jobs were added.
The unemployment rate has held steady between 4% and 3.7% for more than a year before the April jobs report showed it drop to 3.6%. Prior to April’s report, the consistent unemployment rate suggested that workers were jumping back into the workforce to fill open jobs. The now lower rate suggests that those previously collecting unemployment assistance are finding jobs, according to WSJ.
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I wonder if the accelerating decline in manufacturing jobs might partially be a function of robotic replacements.