U.S. Economy Adds 142,000 in September; Unemployment Rate Unchanged at 5.1 Percent

briThe U.S. economy added 142,000 non-farm payroll jobs in September, easily missing the 200,000 forecast from briefing.com while the unemployment level remained unchanged at 5.1 percent, according to new data released today from the U.S. Bureau of Labor Statistics.

Job gains rose the most in the health care sector which added +34,000 jobs in September followed by professional and business services +31,000 and retail + 24,000.

Employment in mining continued to slide in September which saw a decline of -10,000.

During 2015, job growth has averaged 198,000 per month, compared with an average monthly gain of 260,000 in 2014.

Over the past 3 months, job gains have averaged 167,000 per month.

The revisions for job growth was revised -59,000 lower over the past 2 months.

In July it was revised from 245,000 to 223,000 while the August non-farm payroll report was revised from 173,000 to 136,000.

The civilian labor force participation rate declined to 62.4 percent in September.

Over the past 3 months, the labor force participation rate had been 62.6 percent.

The average workweek for all employees on private nonfarm payrolls lowered by 0.1 hour to 34.5 hours in September.

In September, average hourly earnings for all employees on private nonfarm payrolls changed little at $25.09 (-1 cent), following a 9 cent increase in August.

Over the year, hourly earnings have risen by 2.2 percent.

Later today several Fed committee members will be speaking at a Boston Fed conference. The list of speakers includes Boston Fed President Eric Rosengren, Cleveland Fed President Loretta MesterMinneapolis, Fed President Narayana Kocherlakota, and Fed Vice Chairman Stanley Fischer.

-Johnathan Schweitzer

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