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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

10/08/2021 - 08:38:00 (RTTNews)

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

The report said non-farm payroll employment rose by 194,000 jobs in September after climbing by an upwardly revised 366,000 jobs in August.

Economists had expected employment to jump by 500,000 jobs compared to the addition of 235,000 jobs originally reported for the previous month.

Despite the much weaker than expected job growth, the unemployment rate fell to 4.8 percent in September from 5.2 percent in August. The unemployment rate was expected to edge down to 5.1 percent.

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