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

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

10/05/2018 - 08:42:00 (RTTNews)

(RTTNews) - Employment in the U.S. rose by much less than expected in the month of September, according to a report released by the Labor Department on Friday.

The Labor Department said non-farm payroll employment climbed by 134,000 jobs in September, while economists had expected an increase of about 185,000 jobs.

However, the report also showed a significant upward revision to the pace of job growth in August, with employment spiking by 270,000 jobs compared to the originally reported jump of 201,000 jobs.

The Labor Department also said the unemployment rate fell to 3.7 percent in September from 3.9 percent in August. The unemployment rate had been expected to edge down to 3.8 percent.

Average hourly employee earnings rose by $0.08 or 0.3 percent to $27.24 in September, reflecting a year-over-year increase of 2.8 percent.

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