Job growth slow in September, but unemployment rate fell to 4.6%

Employers added just 51,000 jobs in September, the fewest in almost a year, while the unemployment rate dropped down to 4.6%, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Total nonfarm payroll employment in September was 135.6 million. This followed job gains of 123,000 in July and 188,000 in August. 
  • Nonfarm payroll jobs added in September: 51,000
  • Unemployment Rate: 4.6%, down from 4.7%
  • Average Hourly Earnings: up 0.2% to $16.84
  • Jobless claims during the week of 9/30:  down 17k to 302,000
Health care employment continued to grow, with a gain of 24,000 in September. Since December, health care employment has increased by 231,000. Financial activities gained 16,000 jobs in September, as employment continued to trend up in credit intermediation and insurance. Thus far in 2006, the jobless rate has ranged from 4.6 to 4.8 percent.

Average hourly earnings of production or nonsupervisory workers on private nonfarm payrolls rose by 4 cents, or 0.2%, in September to $16.84, seasonally adjusted. Over the year average hourly earnings increased by 4.0%.

In the week ending Sept. 30, the advance figure for seasonally adjusted initial claims was 302,000, a decrease of 17,000 from the previous week's revised figure of 319,000, according to U.S. Department of Labor. . The 4-week moving average was 313,500, a decrease of 2,750 from the previous week's revised average of 316,250

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