U.S. Employment Rises Much Less Than Expected In September

It also stands that wage growth has not increased and wage inequality has not narrowed, a further sign that numerous newly crated jobs fall within less secure sectors of the economy.

The US economy continued to smash expectations and break records in September, with recently released data showing the unemployment rate dropping to just 3.7%; the lowest level since December 1969.

The goods-producing sector added 46,000 jobs in September, with construction employment increasing by 23,000, bringing its 2018 total to 214,000.

Despite the added jobs, the unemployment rate was up 0.2 percentage points to 5.5 per cent, with 1,300 more working-age people unemployed than past year in September. In the past four quarters, average hourly wages have increased by 2.8 percent and accelerated to 3.1 percent in the past two quarters.

"Another solid jobs report; not too hot and not too cold", Kate Warne, investment strategist at Edward Jones told FOX Business.

Starting from this year, the Ministry of Labor is developing a balance of labor resources, job placement and employment of the population, survey among households on employment issues, as well as determining of the number of people who need job in accordance with the decision of the Cabinet of Ministers dated December 22, 2017.

Mourinho pledges to turn Man United around amid sack report
Would fans turn on Jose Mourinho? Ashley met with Newcastle's squad and manager Rafa Benitez on Monday. Some of the boys, in spite of them not being the man that is hunted, they are not coping with it.

Friday's job report confirmed a strengthening job market. If the labor market were as tight as implied by the Fed's estimate of full employment, job growth this strong would likely place significant upward pressure on wages. Over 200,000 jobs were added, and earnings growth topped 2.9 percent for the first time since May of 2009.

Economists forecast another robust month of job gains.

The unemployment rates for adult women (3.3 percent) and Whites (3.3 percent) declined in September.

Wall Street closed down sharply following the news, extending losses from Thursday's selloff due to a sudden jump in bond yields. 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.

The last time the U.S. jobless rate was so low preceded more than a decade of economic pain tied to rising price pressures and efforts to rein them in. The combination of gains in employment and moderate increases in wages is lifting disposable incomes.

"No-one at the Fed thinks unemployment near three percent is sustainable", Ian Shepherdson of Pantheon Macroeconomics said in a client note.

Related News:

  • Brett Kavanaugh's Supreme Court confirmation leaves everyone bruised

    Brett Kavanaugh's Supreme Court confirmation leaves everyone bruised

    Collins had been a holdout Republican but did agree to vote for Kavanaugh's confirmation and announced her decision on Friday. But Democrats hope women angered at the Kavanaugh accusations will turn out in large numbers to vote out Republicans.
    Scientists first discovered the moon outside the Solar system

    Scientists first discovered the moon outside the Solar system

    Plenty of planets exist beyond our solar system, but a moon around one of those worlds has yet to be confirmed. Named Kepler 1625b-i, the moon is unusual because it has a mass and radius similar to Solar System's Neptune.
    Tropical Cyclone Fourteen aims towards Gulf of Mexico

    Tropical Cyclone Fourteen aims towards Gulf of Mexico

    At this point in time, the system does not look to pose a threat to Big Bend and South Georgia. Tropical storm conditions are possible in the watch area Sunday night and Monday.
  • Indonesia quake: survivors hope for their missing ones to return back home

    Indonesia quake: survivors hope for their missing ones to return back home

    Straddling the seismically active Pacific Ring of Fire, Indonesia has always been vulnerable to quakes and tsunamis. The French rescuers said on their Facebook page that 40 people, including six workers, were still missing there.

    Brett Kavanaugh Confirmed to the Supreme Court of the U.S.

    Trump called the Kavanaugh confirmation process - and ensuing backlash - a "rallying cry" for the GOP. "In my conscience. Manchin used an emailed statement to announce his support for Kavanaugh moments after Collins finished talking.
    JP Morgan Expects 'Full-Blown Trade War' Between U.S. and China

    JP Morgan Expects 'Full-Blown Trade War' Between U.S. and China

    Google employees and others have protested the company's plan to build a search engine that would comply with Chinese censorship. Flags of United States and China are placed for a meeting at the Ministry of Agriculture in Beijing, China, June 30, 2017.
  • Nintendo could make a playable Game Boy phone case

    Nintendo could make a playable Game Boy phone case

    What remains to be seen is whether Nintendo will launch a variety of cases to support these popular titles. Nintendo jumped into the smartphone gaming market in 2016 and has been wildly successful so far.
    Zinedine Zidane's agent speaks out on replacing Jose Mourinho

    Zinedine Zidane's agent speaks out on replacing Jose Mourinho

    I am a big boy, but clearly, some of the boys - Marcus Rashford was sad on the pitch; Scott McTominay was scared on the pitch. Mourinho responded to United's dramatic win over Newcastle by complaining of a "manhunt" from certain sections of the media.
    Denis Mukwege and Nadia Murad awarded Nobel Peace Prize 2018

    Denis Mukwege and Nadia Murad awarded Nobel Peace Prize 2018

    In 2016, at the age of 23, Murad was named the UN's first Goodwill Ambassador for the Dignity of Survivors of Human Trafficking. Opened in 1999, the clinic receives thousands of women each year, many of them victims of sexual violence requiring surgery.
  • Martin Keown states his prediction for Liverpool FC v Man City

    Martin Keown states his prediction for Liverpool FC v Man City

    Liverpool head into the worldwide break third in the Premier League , behind leaders City on goal difference. If would have defended today like we did against Napoli, it is 7-0.
    Yale roommate: Kavanaugh lied under oath about drinking, yearbook

    Yale roommate: Kavanaugh lied under oath about drinking, yearbook

    Roche added that Kavanaugh was also a "heavy drinker" and "became aggressive and belligerent when he was drunk". I know this because I heard Brett and his friends using these terms on multiple occasions. "I thought Dr.
    UFC 229 Pre-Fight Press Conference Follows Its Own Script

    UFC 229 Pre-Fight Press Conference Follows Its Own Script

    Screenshot of UFC Video Conor McGregor throwing an object at a bus filled with UFC fighters at the Barclays Center in NY . Since then, his only prize fight has been a lucrative boxing bout against Floyd Mayweather which he lost.


Most liked

Gano's 63-yard field goal lifts Panthers over Giants
By all indications, Reid's new teammates are simply excited to have another Pro Bowl player on the roster. He is focused on putting a winning product on the field, via New York's team website .

Southgate excited by 'brave' Borussia Dortmund teen Sancho
We think there are some exciting young players that we've been tracking, either through their clubs or our junior teams ... The squad has a total of 51 global goals.

Senator Susan Collins backs Brett Kavanaugh, paving way for confirmation
Murkowski has relied over the years on solid backing from Alaskan Native leaders, who opposed Kavanaugh's nomination. Republican Lisa Murkowski (Alaska) voted not to send the nomination to the full Senate.

Oil prices continue to surge
This is predicted to show that weekly crude inventories rose by 1,985,000 barrels after the previous week's 1,852,000 increase. Oil has been rallying as shrinking output from Venezuela to Iran stoked worldwide concern about a supply crunch.

Shahbaz Sharif arrested on charges of corruption
Saleem did not say when Shahbaz Sharif, who is the former chief minister of Punjab, is due to appear in court. By-elections to fill 11 parliamentary seats and 19 provincial assembly seats are scheduled for October 14.

Kavanaugh Takes Junior Justice Duty
But she said the Federal Bureau of Investigation had found no corroborating evidence from witnesses whose names Ford had provided. He said Saturday he thinks Republicans "are going to do incredibly well" in the midterm elections after Kavanaugh's confirmation.

September jobs report shows unemployment hitting 49-year low
The low unemployment rate provided more evidence of a booming economy, which is now in a record eight-year streak of job gains. It also showed the labour market continuing to tighten, perhaps eventually pressuring companies to pay workers more.

Officer Dead, 6 Others Injured In South Carolina Standoff
So many people came to Carraway's rural house across from a soybean field that they were parking in an empty lot next door. Authorities reported that Hopkins' son was also shot, but it is unclear at this time whether Hopkins or police shot him.

Manchester United hit with triple injury blow ahead of Newcastle visit
At half time and against Newcastle , Mourinho was 1/5 to be the first Premier League manager to leave their job with William Hill. Kenedy has completed 11 take-ons in the Premier League this season, more than twice the total managed by any teammate.

Jury convicts Chicago officer of 2nd-degree murder
By far the most serious charge Van Dyke , 40, faced was first-degree murder, which carries a maximum sentence of life in prison. The prosecution said Van Dyke fired unnecessarily within six seconds after arriving at the scene, striking McDonald 16 times.

Mourinho blames police for United bus delay
Cape Town - Roy Keane has launched into a rant about the current state of former club Manchester United , labelling some of the squad as "cry babies".

Spanish opera singer Montserrat Caballe dead at 85
She went on to tour the world in a career spanning 50 years, garnering worldwide acclaim for her creamy voice and dramatic power. However, despite a glittering and successful career, it was not without controversy.

France raises questions over disappearance of Interpol chief
Mr Meng is the first person from China to serve as Interpol's president, a post that is largely symbolic but powerful in status. Mr Meng, who entered politics in 1972, has held several senior positions in China as well as vice minister of public security.

Banksy’ed: Street artist’s painting shreds itself moments after selling for $1.4M
It's unclear exactly how Banksy , the world-famous artist whose identity is still a mystery, pulled it off. It was sold at Sotheby's Contemporary Art Evening Sale on Friday night.

People react to Donald Trump 'elevator screamers'
It was a freakish claim, but a familiar one for many on the right, who have accused Soros of bankrolling other prominent protests.