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Payrolls up 661k, U3 down to 7.9%
People on temporary layoff down by 1.5 million to 4.6 million, permanent job loss unemployment up by 345k to 3.8 million
Unemployment may have dropped, but not for the good reasons!
LFPR down by 0.3 points, EPOP essentially flat
LFPR down by 0.3 points, EPOP essentially flat
Some of the slowdown in payrolls was from decline in government employment.
But private sector payrolls slowed as well. Down to 877k added in Sept from 1.02 million in August
But private sector payrolls slowed as well. Down to 877k added in Sept from 1.02 million in August
The reverse radical recovery continues.
The hit to payrolls is still larger than the worst of the Great Recession, when they were 6% below pre-recession levels.
The hit to payrolls is still larger than the worst of the Great Recession, when they were 6% below pre-recession levels.
Prime-age employment rate declined in September. Another sign that while the unemployment rate dropped the rate of getting a job slowed.
Another fall in the LFPR for prime-age women!
More permanent forms of jobless ticked up in September.
Employment in leisure & hospitality is still 23% below pre-pandemic levels.
The hit to employment remains largest in low average-wage industries . . .
And progress is slowing across all wage tiers
