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WASHINGTON (MarketWatch) The U.S. created a modest 148,000 jobs in September and the number of people hired in August was higher than previously indicated, according to data released Tuesday.
The nations unemployment rate dropped in September to 7.2% from 7.3%, as more people found work, marking the lowest jobless rate since November 2008, according to figures released Tuesday by the Labor Department.
Economists surveyed by MarketWatch had forecast a 185,000 gain in new jobs.
Though the gain was below consensus expectations, stock futures ESZ3 +0.27% were nonetheless pointing to a slight advance when the market opens. Read more in Indications.
The long-delayed September employment report, which was supposed to be released almost three weeks ago, pointed to an economy that was growing at a modest if choppy pace toward the end of summer. Yet the closure of the federal government in the first half of October rattled businesses and consumers and might have put a damper on hiring intentions for the rest of the year.
Economists say it may take several months to learn the extent of the damage. In 2011, hiring sprang back quickly after a drawn-out fight in Washington over how much the government spends and the level of the national debt.
The U.S. has added an average of 177,000 jobs through the first nine months of 2013, but the pace of hiring slowed to a 143,000 rate in the third quarter.
Yet the labor force participation rate, a measure of how many people are looking for work, held steady last month after falling in August to a 35-year low. The participation rate, now at 63.2%, is being closely monitored by the Federal Reserve to determine whether the labor market has become healthy enough for the central bank to begin to scale back a massive economic-stimulus program.
read more U.S. creates 148,000 jobs in September - Economic Report - MarketWatch
The nations unemployment rate dropped in September to 7.2% from 7.3%, as more people found work, marking the lowest jobless rate since November 2008, according to figures released Tuesday by the Labor Department.
Economists surveyed by MarketWatch had forecast a 185,000 gain in new jobs.
Though the gain was below consensus expectations, stock futures ESZ3 +0.27% were nonetheless pointing to a slight advance when the market opens. Read more in Indications.
The long-delayed September employment report, which was supposed to be released almost three weeks ago, pointed to an economy that was growing at a modest if choppy pace toward the end of summer. Yet the closure of the federal government in the first half of October rattled businesses and consumers and might have put a damper on hiring intentions for the rest of the year.
Economists say it may take several months to learn the extent of the damage. In 2011, hiring sprang back quickly after a drawn-out fight in Washington over how much the government spends and the level of the national debt.
The U.S. has added an average of 177,000 jobs through the first nine months of 2013, but the pace of hiring slowed to a 143,000 rate in the third quarter.
Yet the labor force participation rate, a measure of how many people are looking for work, held steady last month after falling in August to a 35-year low. The participation rate, now at 63.2%, is being closely monitored by the Federal Reserve to determine whether the labor market has become healthy enough for the central bank to begin to scale back a massive economic-stimulus program.
read more U.S. creates 148,000 jobs in September - Economic Report - MarketWatch
at "Not in the Labor Force" simply means not working an does not want a job. Mostly people 65 and older, the disabled, students, and stay home spouses.
