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Financial News: U.S. Employment Rises Less Than Expected In September

U.S. Employment Rises Less Than Expected In September

10/04/2019 - 08:45:00 (RTTNews)

(RTTNews) - A closely watched report released by the Labor Department on Friday showed U.S. employment increased by less than expected in the month of September, although the report also showed upward revisions to job growth in the two previous months.

The report said non-farm payroll employment rose by 136,000 jobs in September compared to economist estimates for an increase of about 145,000 jobs.

Meanwhile, the increases in employment in July and August were upwardly revised to 166,000 jobs and 168,000 jobs, respectively, reflecting the addition of 45,000 more jobs than previously reported.

The Labor Department also said the unemployment rate fell to 3.5 percent in September from 3.7 percent in August. Economists had expected to unemployment rate to remain unchanged.

The unexpected drop in the unemployment rate came as a 391,000-person jump in the household survey measure of employment more than offset an 117,000-person increase in the size of the labor force.

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