Terrible Jobs Report for September

The U.S. economy created only 142,000 net new jobs last month. That’s a big miss. Wall Street had been expecting 200,000 jobs. Plus, the numbers for July and August were revised lower.

We’ve had weak reports before, like in March of this year. Also, the non-farm payrolls reports have a wide error range.

The unemployment rate stayed at 5.1%. Looking at the decimals, the unemployment rate came very close to rounding down to 5%. The economy only needed to create 400 more jobs for that to happen. We now have the lowest unemployment rate since April 2008. The unemployment rate is lower now than at anytime between 1974 and 1988.

Posted by on October 2nd, 2015 at 10:26 am


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