The Bureau of Labor Statistics Monthly Jobs Report for September, 2015, offers mostly disappointing data, but with bright spots for information, business services and health care.
Highlights of the Monthly Jobs Report
According to the Labor Department:
- The “unemployment rate held at 5.1 percent, and the number of unemployed persons (7.9 million) changed little.”
- The U.S. economy created 142,000 jobs.
- Employment gains in July and August, 2015 were 59,000 less than previously reported (the July and August revisions).
- Over the past 3 months, job gains have averaged 167,000 per month.
The Business Community Reacts
CNBC reports that “economists had been expecting the report to show 203,000 new jobs, from the downwardly revised August report.” September job creation “was skewed to part-time positions” while “full-time jobs declined.”
The New York Times reports that these numbers indicate a loss of momentum in the American Economy. Bloomberg Business News and the The Wall Street Journal report that “the global slowdown and financial-market turmoil are rippling through” the US economy and that the “global turmoil has sapped U.S. Job Growth.”
The Jobs Report reveals positive growth for information and business services, as well as in health care, for September:
- Employment in information increased by 12,000 (and has increased by 44,000 over the year.)
- Employment in professional and business services has continued to trend up. Job gains occurred in computer systems design and related services (+7,000) and in legal services (+5,000). Job growth averaged 45,000 per month so far in 2015.
- Health care added 34,000 jobs (hospitals and ambulatory services).
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